Getting your player ready...
Price matters.
Last week, I posted a story on InsideRealEstateNews that high-end homes in the Denver area fell a mere 2.3 percent in the first quarter compared with the same period in 2010, according to an analysis by S&P/Case-Shiller. By contrast, low-end homes fell by 8.4 percent during the same period.
I wondered what Case-Shiller meant by its three price tiers: low, mid and high.
I dug a little deeper and found that in Denver, low end is anything below$202,414; mid-level is $202,414 to $308,428; and high-end is anything above $308,428. Low-tiered homes in San Diego at $304,952, was almost the same as the high-tiered price band for Denver. Case-Shiller uses the same “matched-pair” methodology for the price tiers as it does for its overall report, which is one of the most closely watched and influential housing studies in the U.S.
Contact John Rebchook at JRCHOOK@gmail.com.
