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Case-Shiller Tiers: Low Tier Slips, Middle & High Increase

Posted on April 30, 2014April 30, 2014 by The Tim

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: < $279,094 (down 0.2%)
  • Mid Tier: $279,094 – $439,485
  • Hi Tier: > $439,485 (up 0.2%)

First up is the straight graph of the index from January 2000 through February 2014.

Case-Shiller Tiered Index - Seattle

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

Case-Shiller Tiered Index - Seattle

The low tier continued to fall in February, but the middle and high tiers both inched up. Between January and February, the low tier fell 0.1%, the middle tier rose 0.4%, and the high tier gained 1.0%.

Here’s a chart of the year-over-year change in the index from January 2003 through February 2014.

Case-Shiller HPI - YOY Change in Seattle Tiers

Year-over-year changes slipped a bit for the low tier in February, but increased for the middle and high tiers. Here’s where the tiers sit YOY as of February – Low: +17.8%, Med: +14.2%, Hi: +11.2%.

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 26.9% off peak for the low tier, 19.0% off peak for the middle tier, and 13.8% off peak for the high tier.

(Home Price Indices, Standard & Poor’s, 04.29.2014)

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Case-Shiller: Seattle Home Prices Rise Early in February
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April Stats Preview: Improving Inventory Edition

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