December 29, 2011
It’s time for our monthly check-in of the S&P/Case-Shiller Home Price Indices (HPI). The Case-Shiller data is generally considered to be the most reliable measure of overall home price changes for a region, since they only consider repeat sales of homes when calculating their index, instead of looking at all the homes that sold in a given month.
For the full source data behind this post, hit the S&P/Case-Shiller website. For a more detailed explanation of how the Case-Shiller Home Price Index is calculated, check out their methodology pdf. Also remember that the data released on the last Tuesday of a given month is for the period two months prior (i.e. – October data is released in December).
Here are the basic Case-Shiller stats for the Portland/Vancouver area* as of October:
October 2011
Month to Month: Down 0.5%
Year to Year: Down 4.7%
Prices at this level in: December 2004
Peak month: July 2007
Change from Peak: Down 27.4% in 51 months
Low Tier: Under $197,431
Mid Tier: $197,431 to $294,806
Hi Tier: Over $294,806
Nineteen of the twenty metro areas tracked by Case-Shiller saw a decrease in their HPI between September and October (vs. eighteen from August to September): Only Phoenix saw an increase. Wait, Phoenix? Yup, Phoenix. Atlanta fell the most in October (again), falling a whopping 5.0% in a single month.
Here’s a look at the latest local tiered data, back through 2000:
And here’s a closer look at the recent changes, with the vertical and horizontal axes zoomed in to show just the last year:
All three of Portland’s tiers fell in October, with the low tier taking the biggest hit. Month to month, the low tier was down 1.7%, the middle tier fell 0.1, and the high tier decreased 0.4%.
In this next chart, I’ve visualized the month to month trends of all twenty Case-Shiller-tracked cities. Green and above the horizontal axis if they were increasing in the month charted, red and below the axis if they were decreasing. I’ve excluded 2000 through 2004 since they looked largely the same as 2005 (mostly green).
Just four months ago, all twenty cities saw month to month gains. Now just one is not the red.
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December 6, 2011
Over on the national blog, we just posted another big analysis of hundreds of thousands of listings and sales. Here are the numbers for Portland, where winter is still a winning time to list your home for a quick sale, a better chance of selling, and a better price:
November 30, 2011
It’s time for our monthly check-in of the S&P/Case-Shiller Home Price Indices (HPI). The Case-Shiller data is generally considered to be the most reliable measure of overall home price changes for a region, since they only consider repeat sales of homes when calculating their index, instead of looking at all the homes that sold in a given month.
For the full source data behind this post, hit the S&P/Case-Shiller website. For a more detailed explanation of how the Case-Shiller Home Price Index is calculated, check out their methodology pdf. Also remember that the data released on the last Tuesday of a given month is for the period two months prior (i.e. – September data is released in November).
Here are the basic Case-Shiller stats for the Portland/Vancouver area* as of September:
September 2011
Month to Month: Up 0.1%
Year to Year: Down 5.7%
Prices at this level in: January 2005
Peak month: July 2007
Change from Peak: Down 27.0% in 50 months
Low Tier: Under $199,540
Mid Tier: $199,540 to $297,348
Hi Tier: Over $297,348
Seventeen of the twenty metro areas tracked by Case-Shiller saw a decrease in their HPI between August and September (vs. eleven from July to August): Only Washington DC, New York, and Portland rose. Atlanta fell the most in September, falling a whopping 5.9% in a single month.
Here’s a look at the latest local tiered data, back through 2000:
And here’s a closer look at the recent changes, with the vertical and horizontal axes zoomed in to show just the last year:
The Portland area’s low tier fell in September, but the middle and high tier both rose slightly. Month to month, the low tier was down 0.4%, the middle tier rose 0.3%, and the high tier increased 0.4%.
In this next chart, I’ve visualized the month to month trends of all twenty Case-Shiller-tracked cities. Green and above the horizontal axis if they were increasing in the month charted, red and below the axis if they were decreasing. I’ve excluded 2000 through 2004 since they looked largely the same as 2005 (mostly green).
Just three months ago, all twenty cities saw month to month gains. Now only three have avoided falling into the red.
Read the rest of this entry »
October 25, 2011
It’s time for our monthly check-in of the S&P/Case-Shiller Home Price Indices (HPI). The Case-Shiller data is generally considered to be the most reliable measure of overall home price changes for a region, since they only consider repeat sales of homes when calculating their index, instead of looking at all the homes that sold in a given month.
For the full source data behind this post, hit the S&P/Case-Shiller website. For a more detailed explanation of how the Case-Shiller Home Price Index is calculated, check out their methodology pdf. Also remember that the data released on the last Tuesday of a given month is for the period two months prior (i.e. – August data is released in October).
Here are the basic Case-Shiller stats for the Portland/Vancouver area* as of August:
August 2011
Month to Month: Up 0.1%
Year to Year: Down 7.6%
Prices at this level in: January 2006
Peak month: July 2007
Change from Peak: Down 27.1% in 49 months
Low Tier: Under $200,611
Mid Tier: $200,611 to $297,679
Hi Tier: Over $297,679
Ten of the twenty metro areas tracked by Case-Shiller saw a decrease in their HPI between July and August (vs. two from June to July): Phoenix and Las Vegas. Washington DC. saw the biggest increase this month, followed closely behind by Detroit and Chicago.
Here’s a look at the latest local tiered data, back through 2000:
And here’s a closer look at the recent changes, with the vertical and horizontal axes zoomed in to show just the last year:
Portland’s low took a hit in August, but the middle and high tiers both rose a tad. Month to month, the low tier was down 0.5%, the middle tier rose 0.2%, and the high tier increased 0.2%.
Here’s a new chart for you. In this one, I’ve visualized the month to month trends of all twenty Case-Shiller-tracked cities. Green and above the horizontal axis if they were increasing in the month charted, red and below the axis if they were decreasing. I’ve excluded 2000 through 2004 since they looked largely the same as 2005 (mostly green).
The effects of 2009′s homebuyer tax credit are dramatically visible in this chart, as is the fairly strong spring we had this year, hitting 20 cities increasing for the first time since July 2005. However, the sudden drop-off of month-over-month gains in August’s data is interesting, since during a “normal” year we wouldn’t expect to see this many cities in the red until December or January. I think this indicates that there is still quite a bit of weakness in home prices.
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October 12, 2011
Redfin’s Portland team is hosting a free Home Buying Class at the Lucky Lab Brew Pub on October 20th from 6 p.m. – 9 p.m. Our local agent Jeff Bale, along with other speakers, will be on hand to give you the latest stats on what’s going on in the market, guidance for picking the right mortgage loan, navigating the offer and closing process, and what it’s like to work with Redfin.
The class is free and we’ll also have free dinner and drinks provided. Please sign up here:
RSVP for our free Portland Home Buying 101 Class
If you’d like to meet with one of our agents before the class, please get in touch.
Hope to see you there!
September 27, 2011
Before we get going with this month’s Case-Shiller post, I’d like to apologize for the lack of an update last month. Long story short, this particular duty slipped through the cracks while I was out on leave. We heard from a number of readers who were lamenting the missing post. Rest assured, we have heard you and it will not happen again!
It’s time for our monthly check-in of the S&P/Case-Shiller Home Price Indices (HPI). The Case-Shiller data is generally considered to be the most reliable measure of overall home price changes for a region, since they only consider repeat sales of homes when calculating their index, instead of looking at all the homes that sold in a given month.
For the full source data behind this post, hit the S&P/Case-Shiller website. For a more detailed explanation of how the Case-Shiller Home Price Index is calculated, check out their methodology pdf. Also remember that the data released on the last Tuesday of a given month is for the period two months prior (i.e. – July data is released in September).
Here are the basic Case-Shiller stats for the Portland/Vancouver area* as of July:
July 2011
Month to Month: Up 1.0%
Year to Year: Down 8.4%
Prices at this level in: January 2005
Peak month: July 2007
Change from Peak: Down 27.2% in 48 months
Low Tier: Under $201,177
Mid Tier: $201,177 to $296,754
Hi Tier: Over $296,754
Only two of the twenty metro areas tracked by Case-Shiller saw a decrease in their HPI between June and July (vs. none from May to June): Phoenix and Las Vegas. Weirdly, Detroit saw the biggest increase, followed by Minneapolis.
Here’s a look at the latest local tiered data, back through 2000:
And here’s a closer look at the recent changes, with the vertical and horizontal axes zoomed in to show just the last year:
All three of Portland’s tiers gained ground in July. Month to month, the low tier was up 0.8%, the middle tier rose 0.2%, and the high tier increased 1.1%.
Read the rest of this entry »
July 29, 2011
It’s time for our monthly check-in of the S&P/Case-Shiller Home Price Indices (HPI). The Case-Shiller data is generally considered to be the most reliable measure of overall home price changes for a region, since they only consider repeat sales of homes when calculating their index, instead of looking at all the homes that sold in a given month.
For the full source data behind this post, hit the S&P/Case-Shiller website. For a more detailed explanation of how the Case-Shiller Home Price Index is calculated, check out their methodology pdf. Also remember that the data released on the last Tuesday of a given month is for the period two months prior (i.e. – May data is released in July).
Here are the basic Case-Shiller stats for the Portland area* as of May:
May 2011
Month to Month: Up 1.2%
Year to Year: Down 9.1%
Prices at this level in: October 2004
Peak month: July 2007
Change from Peak: Down 27.9% in 46 months
Low Tier: Under $200,820
Mid Tier: $200,820 to $293,253
Hi Tier: Over $293,253
Only three of the twenty metro areas tracked by Case-Shiller saw a decrease in their HPI between April and May (down from 7 in April and 18 in March). Boston ousted DC for the biggest increase, gaining 2.7% on the month. Only Tampa, Las Vegas, and Detroit continued to fall.
Here’s a look at the latest local tiered data, back through 2000:
And here’s a closer look at the recent changes, with the vertical and horizontal axes zoomed in to show just the last year:
Portland’s low and high tiers had a decent showing in May, but the middle tier actually lost some ground. Month to month, the low tier was up 1.1%, the middle tier fell 0.5%, and the high tier increased 2.1%.
Read the rest of this entry »
July 14, 2011
In case you missed it over on the corporate blog, Redfin has just launched our Android app!
(And there was much rejoicing.)
Android fans have been very, very vocal about wanting their own Redfin app, and thanks to the hard work of a crack team of engineers, the day has arrived.
Go find out more! Go! Go you crazy kids! Be free!
Photo courtesy Stéfan via Flickr.
July 8, 2011
I hope everyone had a great holiday weekend. I spent mine lying on the couch, mewling like a sick kitten, but that’s neither here nor there.
I was a Redfin addict before I was an employee, and sometimes I forget that there’s a lot of stuff on our site that not everybody knows about. Some of these are big things, like the fact that we’re a real live brokerage with real live agents. Others are a bit nittier and grittier, like the sheer number of different ways we try to slice and dice data to share with anyone who wants it.
Example: Our Portland neighborhoods and zip codes page (or see other nearby cities). This page doesn’t get an awful lot of traffic, but it should, because it’s just obscenely useful. It basically shows you the median list price, median price per square foot, sale-to-list percentage, and number of homes for sale in the entire local area, broken down both by neighborhood name and by zip code.
You can also sort this information by any of the above columns; if you want to see every neighborhood sorted by sale-to-list percentage, just click on that column header and the data will re-sort.
And if you click on any of the neighborhood names or zip codes, we’ll show you another page with information specific to that area, including:
- New homes for sale
- Upcoming open houses
- Price-reduced homes
- Recently-sold homes
- Most expensive homes
- Least expensive homes
- And most popular (on Redfin) homes
This neighborhood/zip code profile page also gives you trend charts and graphs that you can customize and even import to your own website or blog, links to related forums posts, comparisons with other nearby areas, and profiles of area schools.
If you haven’t seen these pages, you should check them out. And if you’re already using them, you should drop us a line below to let us know what you think of them. Ideas and suggestions are always welcome! (Cruel, cutting remarks are not particularly welcome, but are taken with a stiff upper lip.)
June 29, 2011
It’s time for our monthly check-in of the S&P/Case-Shiller Home Price Indices (HPI). The Case-Shiller data is generally considered to be the most reliable measure of overall home price changes for a region, since they only consider repeat sales of homes when calculating their index, instead of looking at all the homes that sold in a given month.
For the full source data behind this post, hit the S&P/Case-Shiller website. For a more detailed explanation of how the Case-Shiller Home Price Index is calculated, check out their methodology pdf. Also remember that the data released on the last Tuesday of a given month is for the period two months prior (i.e. – April data is released in June).
Here are the basic Case-Shiller stats for the Portland area* as of April:
April 2011
Month to Month: Up 0.1%
Year to Year: Down 9.2%
Prices at this level in: September 2004
Peak month: July 2007
Change from Peak: Down 28.8% in 45 months
Low Tier: Under $198,978
Mid Tier: $198,978 to $289,336
Hi Tier: Over $289,336
Only seven of the twenty metro areas tracked by Case-Shiller saw a decrease in their HPI between March and April (down from eighteen the previous month). The biggest increase was in Washington DC again with a solid 3.0% gain. Other markets that saw increases above 1% were San Francisco (+1.7%), Atlanta (+1.6%), Seattle (+1.6%), Denver (+1.5%), and Cleveland (+1.2%).
Here’s a look at the latest local tiered data, back through 2000:
And here’s a closer look at the recent changes, with the vertical and horizontal axes zoomed in to show just the last year:
Portland’s home prices were almost completely flat, save for the high tier. Month to month, the low tier was flat, the middle tier was flat, and the high tier increased 0.2%.
Read the rest of this entry »
