{"id":7696,"date":"2009-10-28T09:00:00","date_gmt":"2009-10-28T16:00:00","guid":{"rendered":"http:\/\/seattlebubble.com\/blog\/?p=7696"},"modified":"2009-10-28T09:04:18","modified_gmt":"2009-10-28T16:04:18","slug":"case-shiller-tiers-sales-mix-still-shifting-slightly-toward-high-tier","status":"publish","type":"post","link":"https:\/\/seattlebubble.com\/blog\/2009\/10\/28\/case-shiller-tiers-sales-mix-still-shifting-slightly-toward-high-tier\/","title":{"rendered":"Case-Shiller Tiers: Sales Mix Still Shifting Slightly Toward High Tier"},"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; $274,582<\/li>\n<li><strong>Mid Tier:<\/strong> $274,582 &#8211; $404,443<\/li>\n<li><strong>Hi Tier:<\/strong> &gt; $404,443<\/li>\n<\/ul>\n<p>The tier breakpoints continued to shift upward ever so slightly in August, rising 0.3% to 0.4% while the overall index rose just 0.1%.  This would seem to point to a continuing shift in the sales mix of homes away from the low end toward the high end, which would also help explain why the overall index rose only 0.1% when the low tier rose 0.5%.<\/p>\n<p>First up is the straight graph of the index from January 2000 through August 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\/10\/Case-Shiller_SeaTiers_2009-08.png\" rel=\"lightbox[7696]\"><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\/10\/Case-Shiller_SeaTiers_2009-08-600x436.png\" alt=\"Case-Shiller Tiered Index - Seattle\" width=\"600\" height=\"436\" \/><\/a><\/p>\n<p>The low tier rose 0.5% month-to-month, while the middle tier fell 0.3%, and the high tier was virtually flat.  The &#8220;rewind&#8221; situation held steady again, 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 August 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\/10\/Case-Shiller_SeaTiers-YOY_2009-08.png\" rel=\"lightbox[7696]\"><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\/10\/Case-Shiller_SeaTiers-YOY_2009-08-600x436.png\" alt=\"Case-Shiller HPI - YOY Change in Seattle Tiers\" width=\"600\" height=\"436\" \/><\/a><\/p>\n<p>With a month-to-month increase, the low tier&#8217;s year-over-year picture improved the most in August.  Here&#8217;s where the tiers sit YOY as of August &#8211; Low: -16.2%, Med: -13.6%, Hi: -14.9%.<\/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\/10\/Case-Shiller_SeaTiers-PeakDrop_2009-08.png\" rel=\"lightbox[7696]\"><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\/10\/Case-Shiller_SeaTiers-PeakDrop_2009-08-600x436.png\" alt=\"Case-Shiller: Decline from Peak - Seattle Tiers\" width=\"600\" height=\"436\" \/><\/a><\/p>\n<p>So far I am still pretty unimpressed with this &#8220;recovery.&#8221;  With nearly half a year of flatline prices in Seattle, it is still unclear whether this is the bottom, or merely an extended lull on the way to the real bottom.  Personally, my money&#8217;s on the latter.<\/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>, 10.27.2009<\/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-7696","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: Sales Mix Still Shifting Slightly Toward High Tier \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\/10\/28\/case-shiller-tiers-sales-mix-still-shifting-slightly-toward-high-tier\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Case-Shiller Tiers: Sales Mix Still Shifting Slightly Toward High Tier \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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