{"id":3755,"date":"2008-12-30T07:06:24","date_gmt":"2008-12-30T15:06:24","guid":{"rendered":"http:\/\/seattlebubble.com\/blog\/?p=3755"},"modified":"2008-12-30T07:06:24","modified_gmt":"2008-12-30T15:06:24","slug":"case-shiller-seattle-hits-10-yoy-price-drops","status":"publish","type":"post","link":"https:\/\/seattlebubble.com\/blog\/2008\/12\/30\/case-shiller-seattle-hits-10-yoy-price-drops\/","title":{"rendered":"Case-Shiller: Seattle Hits 10% YOY Price Drops"},"content":{"rendered":"

It’s time once again for our monthly update to the Case-Shiller Home Price Index<\/a>. According to October data, <\/p>\n

Down<\/em> 1.4% September to October.
\nDown<\/em> 10.2% YOY.<\/strong>
\nDown<\/em> 11.4% from the July 2007 peak<\/p><\/blockquote>\n

Last year prices fell 0.94% from September to October and year-over-year prices were up<\/em> 3.3%.<\/p>\n

Here’s the usual graph, with L.A. & San Diego offset from Seattle & Portland by 17 months. Portland continues to outperform Seattle on a YOY basis, dropping 10.1% YOY in October and extending its streak to 11 months.<\/p>\n

\"Case-Shiller<\/a><\/p>\n

Note:<\/strong> This graph is not intended to be predictive<\/strong>. It is for entertainment purposes only.<\/p>\n

Here’s the graph of all twenty Case-Shiller-tracked cities:<\/p>\n

\"Case-Shiller<\/a><\/p>\n

In October, seven of the twenty Case-Shiller-tracked cities experienced smaller year-over-year drops than Seattle (one fewer than in September). Dallas at -3.0%, Charlotte at -4.4%, Denver at -5.2%, Boston at -6.0%, Cleveland at -6.2, New York at -7.5%, and Portland at -10.1%. Phoenix took the largest year-over-year drop again, with prices falling nearly 33% in a single year.<\/p>\n

Here’s an update to the peak-decline graph, inspired by a graph 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

\"Case-Shiller<\/a><\/p>\n

In the fifteen months since the price peak in Seattle prices have declined approximately 11.4%. This places the post-peak performance of Seattle home prices right between that of Tampa, FL and Phoenix, AZ, however the overall trend seems to be more on track with the pattern in Washington, DC.<\/p>\n

Here’s the “rewind” chart. The horizontal range is selected to go back just far enough to find the last time that Seattle’s HPI was as low as it is now. This gives us a clean visual of just how far back prices have retreated in terms of months.<\/p>\n

\"Case-Shiller<\/a><\/p>\n

Seattle’s Case-Shiller value for October 2008 of 170.45 was just above its March 2006 value of 169.46. Prices have now “rewound” two years and seven months.<\/p>\n

Check back tomorrow for a post on the Case-Shiller data for Seattle’s price tiers.<\/p>\n

(Home Price Indices, Standard & Poor\u2019s<\/a>, 12.30.2008<\/em>)<\/p>\n","protected":false},"excerpt":{"rendered":"

It’s time once again for our monthly update to the Case-Shiller Home Price Index. According to October data, Down 1.4% September to October. Down 10.2% YOY. Down 11.4% from the July 2007 peak Last year prices fell 0.94% from September to October and year-over-year prices were up 3.3%. Here’s the usual graph, with L.A. &…<\/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],"tags":[138,136,86,222,200],"coauthors":[],"class_list":["post-3755","post","type-post","status-publish","format-standard","hentry","category-stats","tag-behind-the-cycle","tag-california","tag-case-shiller","tag-graphs","tag-statistics"],"yoast_head":"\nCase-Shiller: Seattle Hits 10% YOY Price Drops \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\/2008\/12\/30\/case-shiller-seattle-hits-10-yoy-price-drops\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Case-Shiller: Seattle Hits 10% YOY Price Drops \u2022 Seattle Bubble\" \/>\n<meta name=\"twitter:description\" content=\"It’s time once again for our monthly update to the Case-Shiller Home Price Index. 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