{"id":105058,"date":"2018-03-28T11:00:38","date_gmt":"2018-03-28T18:00:38","guid":{"rendered":"https:\/\/seattlebubble.com\/blog\/?p=105058"},"modified":"2018-03-28T08:14:30","modified_gmt":"2018-03-28T15:14:30","slug":"case-shiller-tiers-to-the-moon","status":"publish","type":"post","link":"https:\/\/seattlebubble.com\/blog\/2018\/03\/28\/case-shiller-tiers-to-the-moon\/","title":{"rendered":"Case-Shiller Tiers: To. The. Moon."},"content":{"rendered":"<p>Let&#8217;s check out the three price tiers for the Seattle area, as measured by Case-Shiller. Remember, Case-Shiller&#8217;s &#8220;Seattle&#8221; data is based on single-family home repeat sales in King, Pierce, and Snohomish counties.<\/p>\n<p>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 <a href=\"http:\/\/us.spindices.com\/documents\/methodologies\/methodology-sp-cs-home-price-indices.pdf\" title=\"S&#038;P\/Case-Shiller Home Price Indices: Index Methodology\">the full methodology pdf<\/a>. Here are the current tier breakpoints:<\/p>\n<ul>\n<li><strong>Low Tier:<\/strong> &lt; $373,070 <em>(up 0.2%)<\/em><\/li>\n<li><strong>Mid Tier:<\/strong> $373,070 &#8211; $604,377<\/li>\n<li><strong>Hi Tier:<\/strong> &gt; $604,377 <em>(up 0.3%)<\/em><\/li>\n<\/ul>\n<p>First up is the straight graph of the index from January 2000 through January 2018.<\/p>\n<p style=\"font-size: 0.8em; text-align: center;\"><a title=\"Case-Shiller Tiered Index - Seattle - Click to enlarge\" href=\"https:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2018\/03\/Case-Shiller_SeaTiers_2018-01.png\" rel=\"lightbox[105058]\"><img decoding=\"async\" src=\"https:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2018\/03\/Case-Shiller_SeaTiers_2018-01.png\" title=\"Case-Shiller Tiered Index - Seattle - Click to enlarge\" alt=\"Case-Shiller Tiered Index - Seattle\" style=\"border:0;\" \/><\/a><\/p>\n<p>Here&#8217;s a zoom-in, showing just the last year:<\/p>\n<p style=\"font-size: 0.8em; text-align: center;\"><a title=\"Case-Shiller Tiered Index - Seattle - Click to enlarge\" href=\"https:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2018\/03\/Case-Shiller_SeaTiers-Zoomed_2018-01.png\" rel=\"lightbox[105058]\"><img decoding=\"async\" src=\"https:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2018\/03\/Case-Shiller_SeaTiers-Zoomed_2018-01.png\" title=\"Case-Shiller Tiered Index - Seattle - Click to enlarge\" alt=\"Case-Shiller Tiered Index - Seattle\" style=\"border:0;\" \/><\/a><\/p>\n<p>All three tiers are hitting new highs and setting up for another year of crazy gains. I keep hoping at some point we&#8217;ll see some sign of a slowdown, but so far\u2026 nothing.<\/p>\n<p>Between December and January, the low tier increased 1.1 percent, the middle tier rose 0.5 percent, and the high tier was up 0.7 percent.<\/p>\n<p>Here&#8217;s a chart of the year-over-year change in the index from January 2003 through January 2018.<\/p>\n<p style=\"font-size: 0.8em; text-align: center;\"><a title=\"Case-Shiller HPI - YOY Change in Seattle Tiers - Click to enlarge\" href=\"https:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2018\/03\/Case-Shiller_SeaTiers-YOY_2018-01.png\" rel=\"lightbox[105058]\"><img decoding=\"async\" src=\"https:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2018\/03\/Case-Shiller_SeaTiers-YOY_2018-01.png\" title=\"Case-Shiller HPI - YOY Change in Seattle Tiers - Click to enlarge\" alt=\"Case-Shiller HPI - YOY Change in Seattle Tiers\" style=\"border:0;\" \/><\/a><\/p>\n<p>Year-over-year price growth in January is well into double digits for all three tiers. The last time any tier was below 10 percent year-over-year growth was December 2016. Here&#8217;s where the tiers sit YOY as of January &#8211; Low: +14.1 percent, Med: +12.1 percent, Hi: +13.0 percent.<\/p>\n<p>Lastly, here&#8217;s a decline-from-peak graph like the one posted earlier this week for the various Case-Shiller markets, but looking only at the Seattle tiers. All three tiers are well above their previous peak levels.<\/p>\n<p style=\"font-size: 0.8em; text-align: center;\"><a title=\"Case-Shiller: Decline from Peak - Seattle Tiers - Click to enlarge\" href=\"https:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2018\/03\/Case-Shiller_SeaTiers-PeakDrop_2018-01.png\" rel=\"lightbox[105058]\"><img decoding=\"async\" src=\"https:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2018\/03\/Case-Shiller_SeaTiers-PeakDrop_2018-01.png\" title=\"Case-Shiller: Decline from Peak - Seattle Tiers - Click to enlarge\" alt=\"Case-Shiller: Decline from Peak - Seattle Tiers\" style=\"border:0;\" \/><\/a><\/p>\n<p>Current standing is 13.3 percent above the 2007 peak for the low tier, 19.0 percent above the 2007 peak for the middle tier, and 25.1 percent above the 2007 peak for the high tier.<\/p>\n<p>(<em>Home Price Indices, <a title=\"S&amp;P\/Case-Shiller\u00ae Home Price Indices\" href=\"http:\/\/us.spindices.com\/index-family\/real-estate\/sp-case-shiller\">Standard &amp; Poor&#8217;s<\/a>, 2018-03-27<\/em>)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Let&#8217;s check out the three price tiers for the Seattle area, as measured by Case-Shiller. Remember, Case-Shiller&#8217;s &#8220;Seattle&#8221; data is based on single-family home repeat sales in King, Pierce, and Snohomish counties.<\/p>\n<p>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 <a href=\"http:\/\/us.spindices.com\/documents\/methodologies\/methodology-sp-cs-home-price-indices.pdf\" title=\"S&#038;P\/Case-Shiller Home Price Indices: Index Methodology\">the full methodology pdf<\/a>. Here are the current tier breakpoints:<\/p>\n<ul>\n<li><strong>Low Tier:<\/strong> &lt; $373,070 <em>(up 0.2%)<\/em><\/li>\n<li><strong>Mid Tier:<\/strong> $373,070 &#8211; $604,377<\/li>\n<li><strong>Hi Tier:<\/strong> &gt; $604,377 <em>(up 0.3%)<\/em><\/li>\n<\/ul>\n","protected":false},"author":2,"featured_media":105061,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"On the blog: Case-Shiller Tiers: To. The. Moon.","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[8,616],"tags":[86,200,334],"coauthors":[1158],"class_list":["post-105058","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-stats","category-counties","tag-case-shiller","tag-statistics","tag-tiers"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Case-Shiller Tiers: To. The. Moon. \u2022 Seattle Bubble<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/seattlebubble.com\/blog\/2018\/03\/28\/case-shiller-tiers-to-the-moon\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Case-Shiller Tiers: To. The. Moon. \u2022 Seattle Bubble\" \/>\n<meta name=\"twitter:description\" content=\"Let&#039;s check out the three price tiers for the Seattle area, as measured by Case-Shiller. Remember, Case-Shiller&#039;s &quot;Seattle&quot; 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. 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