Posted by: Timothy Ellis (The Tim)

Tim Ellis is the founder of Seattle Bubble. His background in engineering and computer / internet technology, a fondness of data-based analysis of problems, and an addiction to spreadsheets all influence his perspective on the Seattle-area real estate market.

109 responses to “NWMLS: Inventory Level, Sales UP, Prices Down”

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  1. mukoh

    EconE,
    I agree with you.
    I myself looked at a condo for my folks retirement, and was quite frankly amused at 1200 Sq Ft for $650k + $.50 per Sq Ft of HOA. Which came out to be a joke. Granted that condo sold no units period.

    I however do not agree that buying anything right now is a bad thing. It all depends on what a person is buying. If they are buying a home 20% off the current market, and understand that the reality is it can go down 10-20% more, then they are making an educated decision.
    If it is someone helocing their house to 100% of value and barely makng payments, that is a risky and reckless behavior.

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  2. Price Drop Dynamics | Redfin Seattle Sweet Digs

    [...] Locally, the NWMLS reports Pending Sales up 4.1% from Year Ago, Total Inventory Unchanged, while Seattle Bubble recaps King County SFH  pendings to be up 15% from same time last [...]

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  3. Roger Ingalls

    Tim:

    Good graphs!

    The tone is factual and cool…why do people think you are a rock throwing maniac?

    You seem a bit more visionary these days…

    Do all of your stats use the median SFR price, rather than the median home price (which would include condos), and why?

    I ask, because many of the historical stats I have researched use median home price.

    Hopefully you’ve already answered this a few times, and can give me a canned response.

    Thanks!

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  4. Redfin gets a haircut | Seattle Metblogs

    [...] It’s far worse for the real estate market, as shown by plummeting prices and rising inventories in Seattle. [...]

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  5. Jillayne

    Hey Tim,

    I’m using your graph in the classroom tomorrow with a big “from SeattleBubble.com” at the bottom.

    Thank you for the graph!

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  6. NWMLS: Home Prices Rewound to Late 2005 | Seattle Bubble — News & discussion about real estate & the housing bubble in the Seattle area.

    [...] interesting snippet that’s outside of the usual data I include in this monthly post. Despite last month’s significant bump in pending sales (up 15% YOY), closed sales this month failed to experience a [...]

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  7. One in Five Pending Sales Failed to Close in Q3 | Seattle Bubble — News & discussion about real estate & the housing bubble in the Seattle area.

    [...] pending sales stats increasingly more useless as a measure of market health. So pending sales were up 15% year-over-year in September. Does that really mean much if 20% of those sales never actually close (vs. just 7% the year [...]

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