{"id":2882,"date":"2008-10-01T09:10:54","date_gmt":"2008-10-01T16:10:54","guid":{"rendered":"http:\/\/seattlebubble.com\/blog\/?p=2882"},"modified":"2008-10-28T09:52:45","modified_gmt":"2008-10-28T16:52:45","slug":"case-shiller-tiers-still-looking-for-the-bottom","status":"publish","type":"post","link":"https:\/\/seattlebubble.com\/blog\/2008\/10\/01\/case-shiller-tiers-still-looking-for-the-bottom\/","title":{"rendered":"Case-Shiller Tiers: Still Looking for the Bottom"},"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 July 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\/10\/case-shiller_seatiers_2008-07.png\" rel=\"lightbox[2882]\"><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\/10\/case-shiller_seatiers_2008-07-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\/10\/case-shiller_seatiers_2008-07.png\" rel=\"lightbox[2882]\">Click to enlarge<\/a><\/p>\n<p>Price drops have resumed in all three tiers.  The low tier and mid tiers have rewound to May 2006 with the high tier performing <em>slightly<\/em> better, back to &#8220;just&#8221; June 2006.  The high tier took the biggest hit in July, falling over two points, or 1.3% in one month.<\/p>\n<p>Here&#8217;s a chart of the year-over-year change in the index from July 2002 through July 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\/10\/case-shiller_seatiers-yoy_2008-07.png\" rel=\"lightbox[2882]\"><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\/10\/case-shiller_seatiers-yoy_2008-07-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\/10\/case-shiller_seatiers-yoy_2008-07.png\" rel=\"lightbox[2882]\">Click to enlarge<\/a><\/p>\n<p>The low tier is still seeing the biggest drops in terms of YOY performance, falling just over 9% from July 2007.  Here&#8217;s where the tiers sit YOY as of July &#8211; Low: -9.3%, Med: -8.2%, Hi: -7.7%.<\/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\/10\/case-shiller_seatiers-peakdrop_2008-07.png\" rel=\"lightbox[2882]\"><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\/10\/case-shiller_seatiers-peakdrop_2008-07-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\/10\/case-shiller_seatiers-peakdrop_2008-07.png\" rel=\"lightbox[2882]\">Click to enlarge<\/a><\/p>\n<p>The high and mid tiers have fallen nearly the same amount, with the low tier resuming its drop after the flat spring &#8220;bounce.&#8221;  The mid tier continues to track pretty closely with the aggregate for the whole Seattle-area market.<\/p>\n<p>I guess spring wasn&#8217;t the bottom after all.  At this rate, the low tier is likely to drop below 10% from peak as early as next month.<\/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>, 09.30.2008<\/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 July 2008. Click to enlarge Price drops have resumed in&#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-2882","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: Still Looking for the Bottom \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\/10\/01\/case-shiller-tiers-still-looking-for-the-bottom\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Case-Shiller Tiers: Still Looking for the Bottom \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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