{"id":8715,"date":"2009-12-30T07:11:30","date_gmt":"2009-12-30T15:11:30","guid":{"rendered":"http:\/\/seattlebubble.com\/blog\/?p=8715"},"modified":"2009-12-30T07:11:30","modified_gmt":"2009-12-30T15:11:30","slug":"case-shiller-tiers-oct-price-rise-fails-to-make-up-sept-losses","status":"publish","type":"post","link":"https:\/\/seattlebubble.com\/blog\/2009\/12\/30\/case-shiller-tiers-oct-price-rise-fails-to-make-up-sept-losses\/","title":{"rendered":"Case-Shiller Tiers: Oct. Price Rise Fails to Make up Sept. Losses"},"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; $273,459<\/li>\n<li><strong>Mid Tier:<\/strong> $273,459 &#8211; $404,605<\/li>\n<li><strong>Hi Tier:<\/strong> &gt; $404,605<\/li>\n<\/ul>\n<p>The breakpoints for the low tier fell slightly in October, while the high tier breakpoint rose a bit.  This is the first time I&#8217;ve noticed the two breakpoints moving in opposite directions.  It would seem to indicate a wider spread of homes being sold than in recent months.<\/p>\n<p>First up is the straight graph of the index from January 2000 through October 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\/12\/Case-Shiller_SeaTiers_2009-10.png\" rel=\"lightbox[8715]\"><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\/12\/Case-Shiller_SeaTiers_2009-10-600x436.png\" alt=\"Case-Shiller Tiered Index - Seattle\" width=\"600\" height=\"436\" \/><\/a><\/p>\n<p>The low tier rose 0.4% month-to-month, while the middle tier rose 0.4%, and the high tier bumped up 0.2%.  Only the high tier regained its September losses.  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 October 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\/12\/Case-Shiller_SeaTiers-YOY_2009-10.png\" rel=\"lightbox[8715]\"><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\/12\/Case-Shiller_SeaTiers-YOY_2009-10-600x436.png\" alt=\"Case-Shiller HPI - YOY Change in Seattle Tiers\" width=\"600\" height=\"436\" \/><\/a><\/p>\n<p>The year-over-year situation improved slightly again in all three tiers, with the high tier again seeing the smallest bump.  Here&#8217;s where the tiers sit YOY as of October &#8211; Low: -13.7%, Med: -10.9%, Hi: -13.0%.<\/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\/12\/Case-Shiller_SeaTiers-PeakDrop_2009-10.png\" rel=\"lightbox[8715]\"><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\/12\/Case-Shiller_SeaTiers-PeakDrop_2009-10-600x436.png\" alt=\"Case-Shiller: Decline from Peak - Seattle Tiers\" width=\"600\" height=\"436\" \/><\/a><\/p>\n<p>If interest rates start to rise next year as most people are expecting them to, and the tax credit is truly allowed to expire, it will be interesting to see if this price plateau holds.<\/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>, 12.29.2009<\/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-8715","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: Oct. Price Rise Fails to Make up Sept. Losses \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\/12\/30\/case-shiller-tiers-oct-price-rise-fails-to-make-up-sept-losses\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Case-Shiller Tiers: Oct. Price Rise Fails to Make up Sept. Losses \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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