{"id":1988,"date":"2008-05-28T07:00:44","date_gmt":"2008-05-28T14:00:44","guid":{"rendered":"http:\/\/seattlebubble.com\/blog\/?p=1988"},"modified":"2008-05-27T11:54:11","modified_gmt":"2008-05-27T18:54:11","slug":"case-shiller-tiers-low-end-spikes-downward","status":"publish","type":"post","link":"https:\/\/seattlebubble.com\/blog\/2008\/05\/28\/case-shiller-tiers-low-end-spikes-downward\/","title":{"rendered":"Case-Shiller Tiers: Low End Spikes Downward"},"content":{"rendered":"<p>Here&#8217;s our monthly look at Seattle&#8217;s price tiers from Case-Shiller.  Remember that 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>Now here come the graphs.  First up is the straight graph of the index from January 2000 through March 2008.<\/p>\n<p style=\"margin: 5px auto; width: 600px; font-size: 0.8em; text-align: center\"><a title=\"Case-Shiller Tiered Index - Seattle - Click to enlarge\" href=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2008\/05\/case-shiller_seatiers_2008-03.png\" rel=\"lightbox[1988]\"><img loading=\"lazy\" decoding=\"async\" style=\"border: 1px solid #000000; margin: 5px\" title=\"Case-Shiller Tiered Index - Seattle - Click to enlarge\" src=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2008\/05\/case-shiller_seatiers_2008-03-tn.png\" alt=\"Case-Shiller Tiered Index - Seattle\" width=\"600\" height=\"437\" \/><\/a><br \/>\n<a title=\"Case-Shiller Tiered Index - Seattle - Click to enlarge\" href=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2008\/05\/case-shiller_seatiers_2008-03.png\" rel=\"lightbox[1988]\">Click to enlarge<\/a><\/p>\n<p>At its peak, the low tier&#8217;s index was over 15 points higher than the high tier.  As of March, the difference has shrunk to 10 points, a clear indication that homes in the low tier are so far experiencing steeper price drops than those in the high tier.<\/p>\n<p>Here&#8217;s a chart of the year-over-year change in the index from June 2002 through March 2008.<\/p>\n<p style=\"margin: 5px auto; width: 600px; font-size: 0.8em; text-align: center\"><a title=\"Case-Shiller HPI - YOY Change in Seattle Tiers - Click to enlarge\" href=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2008\/05\/case-shiller_seatiers-yoy_2008-03.png\" rel=\"lightbox[1988]\"><img loading=\"lazy\" decoding=\"async\" style=\"border: 1px solid #000000; margin: 5px\" title=\"Case-Shiller HPI - YOY Change in Seattle Tiers - Click to enlarge\" src=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2008\/05\/case-shiller_seatiers-yoy_2008-03-tn.png\" alt=\"Case-Shiller HPI - YOY Change in Seattle Tiers\" width=\"600\" height=\"437\" \/><\/a><br \/>\n<a title=\"Case-Shiller HPI - YOY Change in Seattle Tiers - Click to enlarge\" href=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2008\/05\/case-shiller_seatiers-yoy_2008-03.png\" rel=\"lightbox[1988]\">Click to enlarge<\/a><\/p>\n<p>The low and high tiers both nearly doubled their YOY decline from last month.  Here&#8217;s where the YOY price change for the three tiers sit as of March &#8211; Low: -6.3%, Med: -4.4%, Hi: -3.2%.<\/p>\n<p>Lastly, here&#8217;s a decline-from-peak graph like the one posted yesterday, but looking only at the Seattle tiers.<\/p>\n<p style=\"margin: 5px auto; width: 600px; font-size: 0.8em; text-align: center\"><a title=\"Case-Shiller: Decline from Peak - Seattle Tiers - Click to enlarge\" href=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2008\/05\/case-shiller_seatiers-peakdrop_2008-03.png\" rel=\"lightbox[1988]\"><img loading=\"lazy\" decoding=\"async\" style=\"border: 1px solid #000000; margin: 5px\" title=\"Case-Shiller: Decline from Peak - Seattle Tiers - Click to enlarge\" src=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2008\/05\/case-shiller_seatiers-peakdrop_2008-03-tn.png\" alt=\"Case-Shiller: Decline from Peak - Seattle Tiers\" width=\"600\" height=\"437\" \/><\/a><br \/>\n<a title=\"Case-Shiller: Decline from Peak - Seattle Tiers - Click to enlarge\" href=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2008\/05\/case-shiller_seatiers-peakdrop_2008-03.png\" rel=\"lightbox[1988]\">Click to enlarge<\/a><\/p>\n<p>Declines in the high and mid tiers continued to moderate somewhat, but the month to month drop in the low tier was the largest yet, at nearly 2%.  The total decline from peak ranges from 7.0% for the high tier to 8.9% for the low tier.<\/p>\n<p>At this point, even if the index suddenly and unexpectedly leveled off, prices in the three tiers would be down between 7 and 8 percent year-over-year by August.  If values continue dropping between 0.5% and 1.0% per month, all three tiers will hit -10% around August.<\/p>\n<p>(<em>Home Price Indices, <a title=\"S&amp;P\/Case-Shiller\u00ae Home Price Indices\" href=\"http:\/\/www2.standardandpoors.com\/portal\/site\/sp\/en\/us\/page.topic\/indices_csmahp\/0,0,0,0,0,0,0,0,0,1,1,0,0,0,0,0.html\">Standard &amp; Poor\u2019s<\/a>, 05.27.2008<\/em>)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Here&#8217;s our monthly look at Seattle&#8217;s price tiers from Case-Shiller. Remember that Case-Shiller&#8217;s &#8220;Seattle&#8221; data is based on single-family home repeat sales in King, Pierce, and Snohomish counties. Now here come the graphs. First up is the straight graph of the index from January 2000 through March 2008. Click to enlarge At its peak, the&#8230;<\/p>\n","protected":false},"author":2,"featured_media":0,"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":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[8],"tags":[86,200,334],"coauthors":[],"class_list":["post-1988","post","type-post","status-publish","format-standard","hentry","category-stats","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: Low End Spikes Downward \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\/2008\/05\/28\/case-shiller-tiers-low-end-spikes-downward\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Case-Shiller Tiers: Low End Spikes Downward \u2022 Seattle Bubble\" \/>\n<meta name=\"twitter:description\" content=\"Here&#8217;s our monthly look at Seattle&#8217;s price tiers from Case-Shiller. 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