{"id":7000,"date":"2009-08-26T06:00:33","date_gmt":"2009-08-26T13:00:33","guid":{"rendered":"http:\/\/seattlebubble.com\/blog\/?p=7000"},"modified":"2009-08-25T23:33:07","modified_gmt":"2009-08-26T06:33:07","slug":"case-shiller-tiers-high-tier-flat-low-mid-tiers-inch-upward","status":"publish","type":"post","link":"https:\/\/seattlebubble.com\/blog\/2009\/08\/26\/case-shiller-tiers-high-tier-flat-low-mid-tiers-inch-upward\/","title":{"rendered":"Case-Shiller Tiers: High Tier Flat, Low &amp; Mid Tiers Inch Upward"},"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; $272,143<\/li>\n<li><strong>Mid Tier:<\/strong> $272,143 &#8211; $400,584<\/li>\n<li><strong>Hi Tier:<\/strong> &gt; $400,584<\/li>\n<\/ul>\n<p>The tier breakpoints continued to shift slightly upward in June, implying a shift in the sales mix of homes away from the low end toward the high end.<\/p>\n<p>First up is the straight graph of the index from January 2000 through June 2009.<\/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\/2009\/08\/Case-Shiller_SeaTiers_2009-06.png\" rel=\"lightbox[7000]\"><img loading=\"lazy\" decoding=\"async\" style=\"border: 0; margin: 5px\" title=\"Case-Shiller Tiered Index - Seattle - Click to enlarge\" src=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2009\/08\/Case-Shiller_SeaTiers_2009-06-600x436.png\" alt=\"Case-Shiller Tiered Index - Seattle\" width=\"600\" height=\"436\" \/><\/a><\/p>\n<p>The high tier was flat from May to June, while the low and middle tiers each increased 0.8%.  The &#8220;rewind&#8221; situation switched into forward for a month, with low tier sitting about where it was in April 2005 and the middle and the high tiers at May 2005 levels.<\/p>\n<p>Here&#8217;s a chart of the year-over-year change in the index from January 2003 through June 2009.<\/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\/2009\/08\/Case-Shiller_SeaTiers-YOY_2009-06.png\" rel=\"lightbox[7000]\"><img loading=\"lazy\" decoding=\"async\" style=\"border: 0; margin: 5px\" title=\"Case-Shiller HPI - YOY Change in Seattle Tiers - Click to enlarge\" src=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2009\/08\/Case-Shiller_SeaTiers-YOY_2009-06-600x436.png\" alt=\"Case-Shiller HPI - YOY Change in Seattle Tiers\" width=\"600\" height=\"436\" \/><\/a><\/p>\n<p>The strongest upward turn in the YOY data has been in the middle tier over the last two months.  The low and high tiers seem to be more or less flat YOY.  Here&#8217;s where the tiers sit YOY as of June &#8211; Low: -18.0%, Med: -14.4%, Hi: -16.5%.<\/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\/2009\/08\/Case-Shiller_SeaTiers-PeakDrop_2009-06.png\" rel=\"lightbox[7000]\"><img loading=\"lazy\" decoding=\"async\" style=\"border: 0; margin: 5px\" title=\"Case-Shiller: Decline from Peak - Seattle Tiers - Click to enlarge\" src=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2009\/08\/Case-Shiller_SeaTiers-PeakDrop_2009-06-600x436.png\" alt=\"Case-Shiller: Decline from Peak - Seattle Tiers\" width=\"600\" height=\"436\" \/><\/a><\/p>\n<p>Still bobbing along the spring plateau.  Does this indicate a bottom, or just a seasonal break in the downward slide to a price level that is supported by economic fundamentals?  I think you can probably guess which one I&#8217;m betting on&#8230;<\/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>, 08.25.2009<\/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],"tags":[86,200,334],"coauthors":[],"class_list":["post-7000","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: High Tier Flat, Low &amp; Mid Tiers Inch Upward \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\/2009\/08\/26\/case-shiller-tiers-high-tier-flat-low-mid-tiers-inch-upward\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Case-Shiller Tiers: High Tier Flat, Low &amp; Mid Tiers Inch Upward \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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