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: < $279,274 (up 0.8%)
- Mid Tier: $279,274 – $451,070
- Hi Tier: > $451,070 (up 0.9%)
First up is the straight graph of the index from January 2000 through June 2014.
Here’s a zoom-in, showing just the last year:
All three tiers are still in the midst of a fairly typical seasonal increase, but the rate of the growth is slowing across the board. Compared to May’s month-over-month gains, all three tiers grew less in June. Between May and June, the low tier increased 1.4%, the middle tier rose 1.0%, and the high tier gained 1.0%.
Here’s a chart of the year-over-year change in the index from January 2003 through June 2014.
Year-over-year price growth also continued to shrink in all three tiers. Here’s where the tiers sit YOY as of June – Low: +12.4%, Med: +7.7%, Hi: +8.6%.
Lastly, here’s a decline-from-peak graph like the one posted yesterday, but looking only at the Seattle tiers.
Current standing is 21.9% off peak for the low tier, 14.2% off peak for the middle tier, and 7.9% off peak for the high tier.
(Home Price Indices, Standard & Poor’s, 08.26.2014)