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Prediction for July C/S - due out tomorrow

deejayohdeejayoh
edited September 2007 in Seattle Real Estate
S&P will be releasing the Case-Shiller index number for July tomorrow.

June figures came it at 7.9%, with a M2M increase of 0.65%

For July I am forecasting Y2Y growth of just about 7% +/- 0.1%, shaving off another point of appreciation, with the M2M figure coming in around 0.4%.

Expect the local media to continue to trumpet the invulnerability of the Seattle market compared to everywhere else - ignoring the inexorable downward trend in appreciation.

Comments

  • rudekickrudekick
    http://www2.standardandpoors.com/portal ... 002722.htm

    M2M jump from 191.92 to 192.30.

    That's a 0.19% increase.

    Y2Y jump from 179.96 to 192.30.

    That's a 6.85% increase.
  • deejayohdeejayoh
    Well, it looks like I was spot on with both predictions

    U.S. existing-home sales drop for sixth month in a row
    A separate report on housing prices in 20 large cities done by Case-Shiller showed prices dropping a sharp 3.9 percent in July compared with July 2006. Economists said that report was probably a better reflection of the downward pressure on prices that is being exerted by record high inventory levels.

    Seattle, however, bucked that trend. Case-Shiller reported that Seattle prices were up 6.9 percent for the year ending in July — the highest appreciation rate among the 20 cities it follows.
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