{"id":19887,"date":"2012-04-24T09:00:23","date_gmt":"2012-04-24T16:00:23","guid":{"rendered":"http:\/\/seattlebubble.com\/blog\/?p=19887"},"modified":"2012-04-24T10:00:49","modified_gmt":"2012-04-24T17:00:49","slug":"case-shiller-yet-another-new-low-as-winter-wraps-up","status":"publish","type":"post","link":"https:\/\/seattlebubble.com\/blog\/2012\/04\/24\/case-shiller-yet-another-new-low-as-winter-wraps-up\/","title":{"rendered":"Case-Shiller: Yet Another New Low as Winter Wraps Up"},"content":{"rendered":"<p>Let&#8217;s have a look at the latest data from the <a title=\"S&amp;P\/Case-Shiller\u00ae Home Price Indices\" href=\"http:\/\/www.homeprice.standardandpoors.com\/\">Case-Shiller Home Price Index<\/a>.  According to February data, Seattle-area home prices were:<\/p>\n<blockquote><p><em>Down<\/em> 0.8% January to February.<br \/>\n<strong><em>Down<\/em> 2.9% YOY.<\/strong><br \/>\n<em>Down<\/em> 32.9% from the July 2007 peak<\/p><\/blockquote>\n<p>Last year prices fell 1.9% from January to February and year-over-year prices were down 7.5%.<\/p>\n<p>Still moving closer to zero on the year-over-year chart.  I still think we&#8217;ll probably hit year-over-year zero by April or May&#8217;s numbers.<\/p>\n<p>Here&#8217;s an interactive graph of the year-over-year change for all twenty Case-Shiller-tracked cities, courtesy of <a href=\"http:\/\/public.tableausoftware.com\/\" title=\"Tableau Software\">Tableau Software<\/a>  (check and un-check the boxes on the right):<\/p>\n<div style=\"width: 600px; height: 700px; margin: 0 auto;\">\n<script type=\"text\/javascript\" src=\"http:\/\/public.tableausoftware.com\/javascripts\/api\/viz_v1.js\"><\/script><object class=\"tableauViz\" width=\"604\" height=\"669\" style=\"display:none;\"><param name=\"name\" value=\"Case-Shiller-YOY\/YOYChange\" \/><param name=\"toolbar\" value=\"yes\" \/><\/object><noscript>YOY Change<br \/><a href=\"http:\/\/seattlebubble.com\/blog\/2012\/04\/23\/case-shiller-yet-another-new-low-as-winter-wraps-up\/\"><img loading=\"lazy\" decoding=\"async\" alt=\"YOY Change\" src=\"http:\/\/public.tableausoftware.com\/static\/images\/Case-Shiller-YOY-YOYChange_rss.png\" width=\"584\" height=\"620\" style=\"border:0;\" \/><\/a><\/noscript><\/p>\n<div style=\"width:604px;height:22px;padding:0px 10px 0px 0px; margin-top: -6px; color:black;font:normal 8pt verdana,helvetica,arial,sans-serif;\">\n<div style=\"padding-left: 488px;\"><a href=\"http:\/\/www.tableausoftware.com\/public?ref=http:\/\/public.tableausoftware.com\/views\/Case-Shiller-YOY\/YOYChange\" target=\"_blank\">Powered by Tableau<\/a><\/div>\n<\/div>\n<\/div>\n<p>There are now <em>five<\/em> cities in the positive year-over-year club: Phoenix, Detroit, Miami, Denver, and Minneapolis.  In February, Phoenix, Miami, and San Diego all saw month-to-month increases, while everyone else fell.<\/p>\n<p style=\"width: 600px; font-size: 0.8em; text-align: center;\"><a title=\"Case-Shiller HPI: Month-to-Month - Click to enlarge\" href=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2012\/04\/Case-ShillerHPI_MOM_2012-02.png\" rel=\"lightbox[19887]\"><img loading=\"lazy\" decoding=\"async\" title=\"Case-Shiller HPI: Month-to-Month - Click to enlarge\" src=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2012\/04\/Case-ShillerHPI_MOM_2012-02-600x436.png\" alt=\"Case-Shiller HPI: Month-to-Month\" width=\"600\" height=\"436\" style=\"border:0;\" \/><\/a><\/p>\n<p>Seattle came in near the middle of the heap for month-over-month losses, performing just about on par with the 20-city composite index.<\/p>\n<p>Hit the jump for the rest of our monthly Case-Shiller charts, including the interactive chart of raw index data for all 20 cities.<\/p>\n<p><!--more-->In February, nine of the twenty Case-Shiller-tracked cities experienced smaller year-over-year drops (or saw increases) than Seattle (versus eleven in January):<\/p>\n<ul>\n<li>Phoenix at +3.3%<\/li>\n<li>Detroit at +1.5%<\/li>\n<li>Miami at +0.8%<\/li>\n<li>Denver at +0.5%<\/li>\n<li>Minneapolis at +0.4%<\/li>\n<li>Dallas at -1.0%<\/li>\n<li>Charlotte at -1.8%<\/li>\n<li>Washington, DC at -2.3%<\/li>\n<li>Boston at -2.4%<\/li>\n<li>New York at -2.9%<\/li>\n<\/ul>\n<p>Ten cities were falling faster than Seattle as of January: Tampa, New York, Portland, San Diego, San Francisco, Cleveland, Los Angeles, Chicago, Las Vegas, and Atlanta (where prices continue to get absolutely <em>hammered<\/em>&mdash;down 17.3%!).  This is the first time in <em>years<\/em> that we&#8217;ve actually come in better than <a href=\"http:\/\/www.seattlepi.com\/business\/404163_economy23ww.html\" title=\"Seattle Economists: At Least We're Not Cleveland\">Cleveland<\/a>.<\/p>\n<p>Here&#8217;s the interactive chart of the raw HPI for all twenty cities through February.<\/p>\n<div style=\"width: 600px; height: 700px; margin: 0 auto;\">\n<script type=\"text\/javascript\" src=\"http:\/\/public.tableausoftware.com\/javascripts\/api\/viz_v1.js\"><\/script><object class=\"tableauViz\" width=\"604\" height=\"669\" style=\"display:none;\"><param name=\"name\" value=\"Case-Shiller\/Case-ShillerHPI\" \/><param name=\"toolbar\" value=\"yes\" \/><\/object><noscript>Case-Shiller HPI <br \/><a href=\"http:\/\/seattlebubble.com\/blog\/2012\/04\/23\/case-shiller-yet-another-new-low-as-winter-wraps-up\/\"><img loading=\"lazy\" decoding=\"async\" alt=\"Case-Shiller HPI\" src=\"http:\/\/public.tableausoftware.com\/static\/images\/Case-Shiller-Case-ShillerHPI_rss.png\" width=\"584\" height=\"620\" style=\"border:0;\" \/><\/a><\/noscript><\/p>\n<div style=\"width:604px;height:22px;padding:0px 10px 0px 0px; margin-top: -6px; color:black;font:normal 8pt verdana,helvetica,arial,sans-serif;\">\n<div style=\"padding-left: 488px;\"><a href=\"http:\/\/www.tableausoftware.com\/public?ref=http:\/\/public.tableausoftware.com\/views\/Case-Shiller\/Case-ShillerHPI\" target=\"_blank\">Powered by Tableau<\/a><\/div>\n<\/div>\n<\/div>\n<p>Here&#8217;s an update to the peak-decline graph, inspired by a graph <a title=\"Comment by CrystalBall\" href=\"http:\/\/seattlebubble.com\/blog\/2008\/01\/29\/case-shiller-november-seattle-playing-catch-up\/#comment-38661\">created by reader CrystalBall<\/a>.  This chart takes the twelve cities whose peak index was greater than 175, and tracks how far they have fallen so far from their peak.  The horizontal axis shows the total number of months since each individual city peaked.<\/p>\n<p style=\"width: 600px; font-size: 0.8em; text-align: center;\"><a title=\"Case-Shiller HPI: Decline From Peak - Click to enlarge\" href=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2012\/04\/Case-ShillerHPI_Decline-From-Peak_2012-02.png\" rel=\"lightbox[19887]\"><img loading=\"lazy\" decoding=\"async\" title=\"Case-Shiller HPI: Decline From Peak - Click to enlarge\" src=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2012\/04\/Case-ShillerHPI_Decline-From-Peak_2012-02-600x436.png\" alt=\"Case-Shiller HPI: Decline From Peak\" width=\"600\" height=\"436\" style=\"border:0;\" \/><\/a><\/p>\n<p>In the fifty-five months since the price peak in Seattle prices have declined 32.9%, another new post-peak low.<\/p>\n<p>Lastly, let&#8217;s see just how far back Seattle&#8217;s home prices have &#8220;rewound.&#8221;  So far: April 2004.<\/p>\n<p style=\"margin: 5px auto; width: 600px; font-size: 0.8em; text-align: center;\"><a href=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2012\/04\/Case-ShillerHPI_Seattle-Reverting_2012-02.png\" title=\"Case-Shiller: Seattle Home Price Index\" rel=\"lightbox[19887]\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2012\/04\/Case-ShillerHPI_Seattle-Reverting_2012-02-600x436.png\" style=\"border: 0;\" title=\"Case-Shiller: Seattle Home Price Index - Click to enlarge\" alt=\"Case-Shiller: Seattle Home Price Index\" width=\"600\" height=\"436\" \/><\/a><\/p>\n<p>Check back tomorrow for a post on the Case-Shiller data for Seattle&#8217;s price tiers.<\/p>\n<p>(<em>Home Price Indices, <a title=\"S&amp;P\/Case-Shiller\u00ae Home Price Indices\" href=\"http:\/\/www.homeprice.standardandpoors.com\/\">Standard &amp; Poor\u2019s<\/a>, 04.23.2012<\/em>)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Let&#8217;s have a look at the latest data from the Case-Shiller Home Price Index. According to February data, Seattle-area home prices were: Down 0.8% January to February. Down 2.9% YOY. Down 32.9% from the July 2007 peak Last year prices fell 1.9% from January to February and year-over-year prices were down 7.5%. Still moving closer&#8230;<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[8,616],"tags":[136,86,222,200,531],"coauthors":[],"class_list":["post-19887","post","type-post","status-publish","format-standard","hentry","category-stats","category-counties","tag-california","tag-case-shiller","tag-graphs","tag-statistics","tag-tableau"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Case-Shiller: Yet Another New Low as Winter Wraps Up \u2022 Seattle Bubble<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/seattlebubble.com\/blog\/2012\/04\/24\/case-shiller-yet-another-new-low-as-winter-wraps-up\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Case-Shiller: Yet Another New Low as Winter Wraps Up \u2022 Seattle Bubble\" \/>\n<meta name=\"twitter:description\" content=\"Let&#8217;s have a look at the latest data from the Case-Shiller Home Price Index. 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