{"id":20337,"date":"2012-05-30T09:00:59","date_gmt":"2012-05-30T16:00:59","guid":{"rendered":"http:\/\/seattlebubble.com\/blog\/?p=20337"},"modified":"2012-05-30T09:13:41","modified_gmt":"2012-05-30T16:13:41","slug":"case-shiller-tiers-low-tier-drags-seattle-index-down","status":"publish","type":"post","link":"https:\/\/seattlebubble.com\/blog\/2012\/05\/30\/case-shiller-tiers-low-tier-drags-seattle-index-down\/","title":{"rendered":"Case-Shiller Tiers: Low Tier Drags Seattle Index Down"},"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:\/\/www2.standardandpoors.com\/spf\/pdf\/index\/SP_CS_Home_Price_Indices_Methodology_Web.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; $232,614 <em>(up 2.0%)<\/em><\/li>\n<li><strong>Mid Tier:<\/strong> $232,614 &#8211; $369,281<\/li>\n<li><strong>Hi Tier:<\/strong> &gt; $369,281 <em>(up 1.2%)<\/em><\/li>\n<\/ul>\n<p>First up is the straight graph of the index from January 2000 through March 2012.<\/p>\n<p style=\"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\/2012\/05\/Case-Shiller_SeaTiers_2012-03.png\" rel=\"lightbox[20337]\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2012\/05\/Case-Shiller_SeaTiers_2012-03-600x436.png\" title=\"Case-Shiller Tiered Index - Seattle - Click to enlarge\" alt=\"Case-Shiller Tiered Index - Seattle\" style=\"border:0;\" width=\"600\" height=\"436\" \/><\/a><\/p>\n<p>Here&#8217;s a zoom-in, showing just the last year:<\/p>\n<p style=\"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\/2012\/05\/Case-Shiller_SeaTiers-Zoomed_2012-03.png\" rel=\"lightbox[20337]\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2012\/05\/Case-Shiller_SeaTiers-Zoomed_2012-03-600x436.png\" title=\"Case-Shiller Tiered Index - Seattle - Click to enlarge\" alt=\"Case-Shiller Tiered Index - Seattle\" style=\"border:0;\" width=\"600\" height=\"436\" \/><\/a><\/p>\n<p>The middle and high tiers both increased between February and March, while the low tier continued to fall.  The low tier fell 1.1% MOM, the middle tier rose 2.1%, and the high tier gained 1.5%.<\/p>\n<p>Here&#8217;s a chart of the year-over-year change in the index from January 2003 through March 2012.<\/p>\n<p style=\"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\/2012\/05\/Case-Shiller_SeaTiers-YOY_2012-03.png\" rel=\"lightbox[20337]\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2012\/05\/Case-Shiller_SeaTiers-YOY_2012-03-600x436.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;\" width=\"600\" height=\"436\" \/><\/a><\/p>\n<p>Improvement on all three tiers, with the low tier moving to dead even double-digits, and the high tier moving a bit further into the black.  Here&#8217;s where the tiers sit YOY as of March &#8211; Low: -10.0%, Med: -1.6%, Hi: +0.4%.<\/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=\"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\/2012\/05\/Case-Shiller_SeaTiers-PeakDrop_2012-03.png\" rel=\"lightbox[20337]\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2012\/05\/Case-Shiller_SeaTiers-PeakDrop_2012-03-600x436.png\" title=\"Case-Shiller: Decline from Peak - Seattle Tiers - Click to enlarge\" alt=\"Case-Shiller: Decline from Peak - Seattle Tiers\" style=\"border:0;\" width=\"600\" height=\"436\" \/><\/a><\/p>\n<p>Current standing is 44.2% off peak for the low tier, 34.5% off peak for the middle tier, and 27.9% off peak for the high tier.  The low tiers set a new post-peak low point.<\/p>\n<p>(<em>Home Price Indices, <a title=\"S&amp;P\/Case-Shiller\u00ae Home Price Indices\" href=\"http:\/\/www.homeprice.standardandpoors.com\/\">Standard &amp; Poor&#8217;s<\/a>, 05.29.2012<\/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. Note that the tiers are determined by sale volume. In other words, 1\/3 of all sales fall into each tier. For more details&#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":[8,616],"tags":[86,200,334],"coauthors":[],"class_list":["post-20337","post","type-post","status-publish","format-standard","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: Low Tier Drags Seattle Index Down \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\/2012\/05\/30\/case-shiller-tiers-low-tier-drags-seattle-index-down\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Case-Shiller Tiers: Low Tier Drags Seattle Index Down \u2022 Seattle Bubble\" \/>\n<meta name=\"twitter:description\" content=\"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. Note that the tiers are determined by sale volume. In other words, 1\/3 of all sales fall into each tier. 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Remember, Case-Shiller&#8217;s &#8220;Seattle&#8221; 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. 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