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.

12 responses to “NWMLS: Inventory Hit a Record Low in October”

  1. Kary L. Krismer

    Is the months supply also a low for your data?

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  2. Erik Muller

    Year over year active listing = -40%. That is crazy. I think people waited until 2012 to buy cause they wanted a good price. Now they are driving the price up based on supply and demand.

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  3. David Losh

    It still looks to me like we are in a bubble. Low inventory, and low interest rates, combined with how long people have waited to buy is driving up prices.

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  4. Dave0

    “Sales dropped off quite a bit from August, as they do nearly every year.”
    Did you forget to change that sentence from last month’s post?

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  5. Marc

    sudden jump to a 16% year-over-year increase in the median price is the biggest news in today’s data

    That’s what jumped out at me when I read the news release this morning. Now looking at the price chart suggests that we’re in store for more double digit year over year increases through at least February 2013.

    If that’s the case and inventory doesn’t pick up to offset some deamnd we could e setting the stage for some really desperate buyer behavior.

    It may come to pass that as July 2007 was to high prices so will February 2012 be to low. It will certainly be an interesting spring for real estate.

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  6. Erik

    RE: Marc @ 6
    If I were to take my best guess, I would say that prices will go up until February 2013 and begin to decrease in March 2013 because of the increase in foreclosures. Someone previously stated that there will have to be enough foreclosures to meet buyers needs and then extra to drive the price down or something of that sort. Prices may increase until February 2013 and plateau. It will be interesting to monitor how many foreclosures are coming each month.

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  7. softwarengineer

    The Price Going Up is not the at the Same Rate it Went Down

    A 50% YOY decrease in price since 2007 requires a 100% increase in price to catch up to 2007, not a 50% YOY increase.

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  8. 2kt

    RE: David Losh @ 3

    In a bubble prices do not go down month to month on large volume, captain Loh.

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  9. David Losh

    RE: 2kt @ 10

    Prices level, and trough through ups, and downs in the Real Estate market. Over all it says here prices went up year over year.

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  10. whatsmyname

    This has long been my favorite monthly feature. But I have lost track of one thing. How many consecutive months have the arrows been all red for buyers?

    Also, if you need to recast the inventory chart, I recommend that you de-truncate it entirely. Inventory is low, but not so dramatic as the visceral impression left by the current chart.

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