{"id":2553,"date":"2008-08-27T09:54:08","date_gmt":"2008-08-27T16:54:08","guid":{"rendered":"http:\/\/seattlebubble.com\/blog\/?p=2553"},"modified":"2008-10-28T09:52:33","modified_gmt":"2008-10-28T16:52:33","slug":"case-shiller-tiers","status":"publish","type":"post","link":"https:\/\/seattlebubble.com\/blog\/2008\/08\/27\/case-shiller-tiers\/","title":{"rendered":"Case-Shiller Tiers: A Flat Spring Bounce"},"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>First up is the straight graph of the index from January 2000 through June 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\/08\/case-shiller_seatiers_2008-06.png\" rel=\"lightbox[2553]\"><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\/08\/case-shiller_seatiers_2008-06-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\/08\/case-shiller_seatiers_2008-06.png\" rel=\"lightbox[2553]\">Click to enlarge<\/a><\/p>\n<p>You can see that all three tiers basically flattened out through the spring.  The medium and high tiers had that slight bump from March to April, but have since given back the slight gain, while the low tier has been nearly flat.<\/p>\n<p>Here&#8217;s a chart of the year-over-year change in the index from June 2002 through June 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\/08\/case-shiller_seatiers-yoy_2008-06.png\" rel=\"lightbox[2553]\"><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\/08\/case-shiller_seatiers-yoy_2008-06-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\/08\/case-shiller_seatiers-yoy_2008-06.png\" rel=\"lightbox[2553]\">Click to enlarge<\/a><\/p>\n<p>Despite being flat for four months, the low tier continues to perform worst in terms of year-over-year price changes, coming with a  nearly 9% drop from June 2007.  Here&#8217;s where the tiers sit YOY as of June &#8211; Low: -8.8%, Med: -7.6%, Hi: -6.2%.<\/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\/08\/case-shiller_seatiers-peakdrop_2008-06.png\" rel=\"lightbox[2553]\"><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\/08\/case-shiller_seatiers-peakdrop_2008-06-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\/08\/case-shiller_seatiers-peakdrop_2008-06.png\" rel=\"lightbox[2553]\">Click to enlarge<\/a><\/p>\n<p>It&#8217;s almost as if the low tier is waiting for the other two tiers to catch up after dropping so severely between months 8 and 9.  Looks like another month or so and the mid and high tiers should be pretty close in terms of total decline from peak.<\/p>\n<p>So has the low tier bottomed out, or is the flatness of March-June just the best &#8220;spring bounce&#8221; that could be mustered?  We&#8217;ll find out soon enough as we crawl into the summer and fall.<\/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>, 08.26.2008<\/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. First up is the straight graph of the index from January 2000 through June 2008. Click to enlarge You can see that all&#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-2553","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: A Flat Spring Bounce \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\/08\/27\/case-shiller-tiers\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Case-Shiller Tiers: A Flat Spring Bounce \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. 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