Case-Shiller Home Prices Relative to Peak
The news reports often give the year-over-year or month-to-month drops, but not the drop in prices from the peak month. The drop in price from the peak month to March 2009 is as follows for the just-published, seasonally adjusted data:
-52% AZ-Phoenix
-40% CA-Los Angeles
-42% CA-San Diego
-45% CA-San Francisco
-12% CO-Denver
-33% DC-Washington
-47% FL-Miami
-40% FL-Tampa
-21% GA-Atlanta
-27% IL-Chicago
-18% MA-Boston
-44% MI-Detroit
-35% MN-Minneapolis
-10% NC-Charlotte
-50% NV-Las Vegas
-20% NY-New York
-20% OH-Cleveland
-19% OR-Portland
- 9% TX-Dallas
-21% WA-Seattle
Note that Case-Shiller is for a selection of metro areas, and that major areas such as Houston and Philadelphia are not included. It does not have good represention across the mid-section for cities such as Baltimore, Cincinnatti, Memphis, St. Louis, and Kansas City.
And a graph for those who like pictures.
May 26, 2009 12:48 PM | Reply | Permalink
As said in another thread, some middle-class cities in the SF Bay Area have only about -25% average per your source in that thread. It's also unclear how the C-S data deals with skews in volume/price (mean vs. median is a start on that).
I wonder if anyone has chewed the data to produce a new graph, or a comparison to say 2002 prices.
A June 2008 graph: http://carolan.org/wp-content/uploads/2008/06/case-chart-062408.gif
May 26, 2009 4:42 PM | Reply | Permalink