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Tuesday, July 27, 2010

Seattle up 1% March to April. Down 2.8% YOY.

Up 1.0% March to April.
Down 2.8% YOY.
Down 24.5% from the July 2007 peak

Thanks to the finally expiring tax credit, The Seattle area saw a month over month price increase of 1% from March to April. While looking at the same time fram last year the area is down another 2.8% the downward trend seems to be at least slowing. Adjusting from the market highs of 2007 the Seattle area has dropped almost 25%

The S&P/Case-Shiller Home Price Indices are published on the last Tuesday of each month at 9:00 am ET. They are constructed to accurately track the price path of typical single-family homes located in each metropolitan area provided. Each index combines matched price pairs for thousands of individual houses from the available universe of arms-length sales data. The S&P/Case-Shiller National U.S. Home Price Index tracks the value of single-family housing within the United States. The index is a composite of single-family home price indices for the nine U.S. Census divisions and is calculated quarterly. The S&P/Case-Shiller Composite of 10 Home Price Index is a value-weighted average of the 10 original metro area indices. The S&P/Case-Shiller Composite of 20 Home Price Index is a value-weighted average of the 20 metro area indices. The indices have a base value of 100 in January 2000; thus, for example, a current index value of 150 translates to a 50% appreciation rate since January 2000 for a typical home located within the subject market.

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