Please vote in this poll using the sidebar.
Where will King County SFH Months of Supply max out?
- 8.8 (current value) (9%, 14 Votes)
- 8.9-9.9 (10%, 16 Votes)
- 10.0-12.4 (21%, 34 Votes)
- 12.5-14.9 (23%, 37 Votes)
- 15.0-19.9 (17%, 28 Votes)
- 20.0+ (20%, 36 Votes)
Total Voters: 164
This poll will be active and displayed on the sidebar through 12.13.2008.
If you don’t know what “Months of Supply” means, refer to this post for a full explanation.
Also, for anyone that’s interested, here’s the trend of MOS from 2000 through the present in bar form:
And here’s the same data, in line format.
New Homes is redmond are being priced much lower than those listed on the website.
Dont be afraid to quote 25% below the list Price. Sellers are just waiting to have atleast 1 or 2 sales each month based on my experience.
Are those MOS numbers calculated using Pendings or Closings? Because based on closings, King County MOS was around 11 in November.
I would think that almost all informed folks who want to buy are waiting unless they can find a great deal on a distress sale. These number will likely get really high until it’s OK to go back into the water.
Here’s a link to a fun chart where you can see Seattle median price compared to Case-Schiller. It does a good job of demonstrating the lag-effect in Seattle and leaves me with the impression things around here need to get further reduced to come into line with the rest of the nation.
http://www.nytimes.com/interactive/2008/10/28/business/20080624_HOUSING_GRAPHIC.html
Looks like those distressed sales aren’t going to stop piling up any time soon:
http://news.yahoo.com/s/ap/20081208/ap_on_bi_ge/financial_meltdown
You just have to give these “experts” some time and a couple of hundred billions to burn first and they also will come to realize what common bloggers said from the start: Snippet fom sf_boomerang’s link
“The new data raise questions about whether government money may be better spent on creating jobs, rather than averting foreclosures, said John Reich, director of the federal Office of Thrift Supervision office”
It’s what has been said here over and over again, you can’t keep favouring irresponsible homeowners before the rest of the population. It’s all lobbyist initaiated corrupted toxic garbage. I’m glad to see that the latest rumours from washington seems turn away from that and is now more focused on actions that favours all, as lower interest rates and generic stimulous. Revovery and re-instated financial strength for this country needs to go through lower home prices not by trying to sustain a bubble economy.
How about another poll… where will the KC SFH inventory bottom out?
It is sort of like the DOW prediction poll several months back, but with higher numbers.