Seattle Home Values Down in November

The latest Standard & Poors / Case-Shiller Index is out, and it shows that Seattle home values for November dropped 1.1% from October, to 141.57. This is the lowest level in Seattle since February 2005. This also represents a dip of 4.7% from November 2009.

Nationwide, values were down 0.97%, and 19 of 20 markets showed declines; San Diego was the only winner, edging from 159.99 to 160.08.

Over the past year, values nationwide are down 1.6% from November 2009 and down in 16 of the 20 markets surveyed. Washington D.C. led gainers at 3.5%, and Atlanta led losers at -7.9%.

Portland, our sister city to the south, was down 1.58% for the month, and is down 7% since November 2009.

The S&P/Case-Shiller Home Price Indices are calculated monthly using a three-month moving average and published with a two month lag. New index levels are released at 9 am on the last Tuesday of every month. Tables are available at http://www.standardandpoors.com/home/en/us.