Posted by: Timothy Ellis (The Tim)

Tim Ellis is the founder of Seattle Bubble. His background in engineering and computer / internet technology, a fondness of data-based analysis of problems, and an addiction to spreadsheets all influence his perspective on the Seattle-area real estate market.

2 responses to “Case-Shiller Tiers: All Three Tiers Dipped in December”

  1. softwarengineer

    Tim, I Like Your Blog Limit of 5 On Articles

    It contains the long convoluted “in-fighting” blogs and limits their inputs….great idea!

    And yes, the end of the year slump was 4.4% drop nationally…a month to month trending, but irrespective, such an unusually sizable deterioration, that its impact can’t be mitigated. I think it may be linked to the Sequestration fears last Dec; now hitting us again this month too….

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  2. David Losh

    I got my redfin update about how great prices are doing in Charlotte North Carolina, and I was stunned by the price, and price per square foot.

    I understand the wage base there is very high due to medical research money, kind of like what Microsoft does for the Eastside, however $399950 for a median price seems high to me.

    redfin is quoting the Triangle area of Charlotte which contains most of the research facilities, but North Carolina is a big State with several economic issues, kind of the same as Washington, or any State that has a golden economic hub.

    Shiller has been making rounds on the talk shows about the economy to caution people about the exhuberance we are seeing due to low inventory. From what I read he is still saying that the foreclosure market is driving down prices in some areas, like for here it would be Renton, while areas like North Seattle see these multiple offers.

    So I can see how prices could show a decline the same as I can see how prices show double digit rises. In Phoenix they are comparing distressed property sales of last year to this year where short sales, and foreclosures are getting much better prices, so it shows a 20% increase in pricing, but it’s for the same crap properties.

    I don’t know what I would do really if I was a buyer with a family who had waited all of this time to buy something. What I do know is that I wouldn’t get too excited by the sales data, or what Case/Shiller was showing me.

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