Case-Shiller Data Shows Fifth Consecutive Price Increase Nationwide, Weakness in Northeast

Happy holidays Redfinnians!

The Case-Shiller data for October came out this morning; looking at the seasonally adjusted data as we always do, we see the fifth consecutive monthly increase nationwide, but weakness in Atlanta, Chicago, Boston, New York. After four months of gains, New York and Boston declined for the second straight month in a row, whereas Seattle saw its first increase in 28 months:

Market MoM Change YoY Change Date of Max Change from Max Prices Last at This Level in… Consec. Mos. of Increase
LA Area 0.7% -6.3% Apr-06 -39.0% Sep-03 5
San Diego Area 1.1% -2.4% Mar-06 -38.8% Nov-02 5
Bay Area 1.7% -2.6% Feb-06 -38.6% Jan-01 6
Washington DC Area 0.2% -2.8% Mar-06 -29.2% Apr-04 7
Atlanta Area -0.2% -8.1% Apr-07 -19.6% May-01 0
Chicago Area -1.0% -10.2% Feb-07 -23.6% Feb-03 0
Boston Area -0.2% -2.8% Nov-05 -15.5% Jun-03 0
NY Area -0.2% -7.7% May-06 -19.5% Jun-04 0
Seattle Area 0.4% -12.5% May-07 -22.5% Apr-05 1
20-City 0.4% -7.3% Apr-06 -29.5% Sep-03 5

DC has been especially strong. We’ll add a graph and provide the usual context in our newsletter, due out later today.

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