{"id":8310,"date":"2009-12-16T09:00:36","date_gmt":"2009-12-16T17:00:36","guid":{"rendered":"http:\/\/seattlebubble.com\/blog\/?p=8310"},"modified":"2009-12-16T09:15:26","modified_gmt":"2009-12-16T17:15:26","slug":"still-searching-for-the-home-price-bottom-around-seattle","status":"publish","type":"post","link":"https:\/\/seattlebubble.com\/blog\/2009\/12\/16\/still-searching-for-the-home-price-bottom-around-seattle\/","title":{"rendered":"Still Searching for the Home Price Bottom Around Seattle"},"content":{"rendered":"

A few people have asked for another checkup on our bottom-calling series from February<\/a>, in which we explored six different methods of forecasting the bottom for Seattle-area home prices.<\/p>\n

Not much has changed since our most recent checkup in July<\/a>, when prices as measured by the Case-Shiller Index were 22.5% off the peak (May data), and we had passed two of our six potential bottoms.<\/p>\n

As of the latest Case-Shiller data (September)<\/a>, home prices are still hitting new lows, although they have been fairly flat for the summer at 22.5% off the peak. Our next potential bottom is this month with the Dollars per Square Foot Linear Forecast<\/a>, but we obviously won’t know if this month is the bottom until at least a few months from now.<\/p>\n

In the mean time, it definitely looks like we can safely say that we did not hit the bottom this summer or fall. Here’s King County’s median $\/sqft, according to Redfin<\/a>:<\/p>\n

\"Median<\/a><\/p>\n

There’s definitely a nice little summer boost there, with the median sold $\/sqft coming up off the March-May low of $199\/sqft up to a mini-peak of $206\/sqft in September. However, as of December 14th, King County home prices have already hit a new low, dropping to $198\/sqft.<\/p>\n

The pattern in Seattle proper looks similar, though prices have not yet dropped to a new low according to Redfin’s data<\/a>.<\/p>\n

\"Median<\/a><\/p>\n

April low: $271\/sqft. August mini-peak: $283\/sqft. Latest: $278\/sqft.<\/p>\n

Snohomish County<\/a> didn’t get much of a summer boost at all:<\/p>\n

\"Median<\/a><\/p>\n

Spring: $163\/sqft. Summer: $165\/sqft. Latest: $158\/sqft.<\/p>\n

Pierce County<\/a> got a boost, and has fallen almost all the way back down.<\/p>\n

\"Median<\/a><\/p>\n

Spring: $128\/sqft. Summer: $133\/sqft. Latest: $129\/sqft.<\/p>\n

Here’s one more look at the dollars per square foot metric, courtesy of Zillow<\/a>, who apparently derives their data from a slightly different source than Redfin.<\/p>\n

\n
Median Sale Price \/ sq. ft.<\/h6>\n
\"This<\/p>\n

You need the latest version of the Macromedia Flash Player.
Download the free Flash Player now!<\/a><\/p>\n

\"Get<\/a><\/div><\/object><\/object><\/div>\n

More King Home Values<\/a><\/div>\n<\/div>\n

Zillow puts the April low at $205\/sqft, a peak in July at $211\/sqft, and the latest reading (October) at $206\/sqft.<\/p>\n","protected":false},"excerpt":{"rendered":"

A few people have asked for another checkup on our bottom-calling series from February, in which we explored six different methods of forecasting the bottom for Seattle-area home prices. Not much has changed since our most recent checkup in July, when prices as measured by the Case-Shiller Index were 22.5% off the peak (May data),…<\/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":[206,8],"tags":[292,14],"coauthors":[],"class_list":["post-8310","post","type-post","status-publish","format-standard","hentry","category-features","category-stats","tag-bottom-calling","tag-predictions"],"yoast_head":"\nStill Searching for the Home Price Bottom Around Seattle \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\/2009\/12\/16\/still-searching-for-the-home-price-bottom-around-seattle\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Still Searching for the Home Price Bottom Around Seattle \u2022 Seattle Bubble\" \/>\n<meta name=\"twitter:description\" content=\"A few people have asked for another checkup on our bottom-calling series from February, in which we explored six different methods of forecasting the bottom for Seattle-area home prices. 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