{"id":3512,"date":"2008-11-26T07:00:11","date_gmt":"2008-11-26T15:00:11","guid":{"rendered":"http:\/\/seattlebubble.com\/blog\/?p=3512"},"modified":"2008-11-26T22:12:55","modified_gmt":"2008-11-27T06:12:55","slug":"case-shiller-tiers-still-falling-in-sync","status":"publish","type":"post","link":"https:\/\/seattlebubble.com\/blog\/2008\/11\/26\/case-shiller-tiers-still-falling-in-sync\/","title":{"rendered":"Case-Shiller Tiers: Still Falling in Sync"},"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 September 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\/11\/case-shiller_seatiers_2008-09.png\" rel=\"lightbox[3512]\"><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\/11\/case-shiller_seatiers_2008-09-600x436.png\" alt=\"Case-Shiller Tiered Index - Seattle\" width=\"600\" height=\"436\" \/><\/a><\/p>\n<p>Price drops accelerated slightly in September for all three tiers.  The low tier and middle tiers are rewound to just below April 2006 values, while the high tier is just above its May 2006 level.  The middle tier again took the biggest percentage hit in September, falling 1.8% in a single month.<\/p>\n<p>Here&#8217;s a chart of the year-over-year change in the index from August 2002 through September 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\/11\/case-shiller_seatiers-yoy_2008-09.png\" rel=\"lightbox[3512]\"><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\/11\/case-shiller_seatiers-yoy_2008-09-600x436.png\" alt=\"Case-Shiller HPI - YOY Change in Seattle Tiers\" width=\"600\" height=\"436\" \/><\/a><\/p>\n<p>The low tier had the biggest year-over-year hit, but not by a large margin.  Both the low and the middle tiers fell over 10% YOY in September.  Here&#8217;s where the tiers sit YOY as of September &#8211; Low: -10.5%, Med: -10.2%, Hi: -9.2%.<\/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\/11\/case-shiller_seatiers-peakdrop_2008-09.png\" rel=\"lightbox[3512]\"><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\/11\/case-shiller_seatiers-peakdrop_2008-09-600x436.png\" alt=\"Case-Shiller: Decline from Peak - Seattle Tiers\" width=\"600\" height=\"436\" \/><\/a><\/p>\n<p>The decline frome the peak looks remarkably similar across the three tiers since peak +12.  This is interesting, since the low tier reached a considerably higher peak than the middle and high tiers, and it would be reasonable to assume that it will correct further.  So far we have not seen that happen to a large degree.  It will be interesting to see whether the HPI for the three tiers get closer over the next year.<\/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\u2019s<\/a>, 11.25.2008<\/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 September 2008. Price drops accelerated slightly in September for 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-3512","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 Falling in Sync \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\/11\/26\/case-shiller-tiers-still-falling-in-sync\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Case-Shiller Tiers: Still Falling in Sync \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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