Case-Shiller Tiers: All Three Tiers Increase Strongly in April

Let’s check out the three price tiers for the Seattle area, as measured by Case-Shiller. Remember, Case-Shiller’s “Seattle” data is based on single-family home repeat sales in King, Pierce, and Snohomish counties.

Note that the tiers are determined by sale volume. In other words, 1/3 of all sales fall into each tier. For more details on the tier methodologies, hit the full methodology pdf. Here are the current tier breakpoints:

  • Low Tier: < $291,658 (up 2.0%)
  • Mid Tier: $291,658 – $465,154
  • Hi Tier: > $465,154 (up 2.0%)

First up is the straight graph of the index from January 2000 through April 2015.

Case-Shiller Tiered Index - Seattle

Here’s a zoom-in, showing just the last year:

Case-Shiller Tiered Index - Seattle

All three tiers shot up strongly in April, with the middle tier gaining the most ground.

Between March and April, the low tier increased 2.5 percent, the middle tier rose 2.7 percent, and the high tier gained 2.0 percent.

Here’s a chart of the year-over-year change in the index from January 2003 through April 2015.

Case-Shiller HPI - YOY Change in Seattle Tiers

Year-over-year price growth shrank slightly in the high tier, but grew in the low and middle tier. Here’s where the tiers sit YOY as of April – Low: +11.1 percent, Med: +7.1 percent, Hi: +7.0 percent.

Lastly, here’s a decline-from-peak graph like the one posted yesterday, but looking only at the Seattle tiers.

Case-Shiller: Decline from Peak - Seattle Tiers

Current standing is 15.9 percent off peak for the low tier, 10.2 percent off peak for the middle tier, and 3.7 percent off peak for the high tier.

(Home Price Indices, Standard & Poor’s, 2015-06-30)

  
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