February Stats Preview: Slow Start Edition

February Stats Preview: Slow Start Edition

With February now complete, let’s have a look at our monthly stats preview. Most of the charts below are based on broad county-wide data that is available through a simple search of King County and Snohomish County public records. If you have additional stats you’d like to see in the preview, drop a line in the comments and I’ll see what I can do.

First up, here’s the snapshot of all the data as far back as my historical information goes, with the latest, high, and low values highlighted for each series:

King & Snhomish County Stats Preview

Listings were once again up in both counties, much more in Snohomish than in King. Sales fell slightly from last year’s levels in both counties again as well. Foreclosure starts and completions both continued to drop.

Next, let’s look at total home sales as measured by the number of “Warranty Deeds” filed with King County:

King County Warranty Deeds

Sales in King County rose 4.7 percent between January and February (in 2013 they rose 4.4 percent over the same period), and were down 1.7 percent year-over-year. Basically the same trends we saw in January.

Here’s a look at Snohomish County Deeds, but keep in mind that Snohomish County files Warranty Deeds (regular sales) and Trustee Deeds (bank foreclosure repossessions) together under the category of “Deeds (except QCDS),” so this chart is not as good a measure of plain vanilla sales as the Warranty Deed only data we have in King County.

Snohomish County Deeds

Deeds in Snohomish fell 0.7 percent month-over-month and were down 1.3 percent from February 2013.

Next, here’s Notices of Trustee Sale, which are an indication of the number of homes currently in the foreclosure process:

King County Notices of Trustee Sale

Snohomish County Notices of Trustee Sale

Foreclosures in both counties were yet again down about 50 percent from a year ago. Month-over-month foreclosures fell in both Snohomish and King. King was down 53 percent from last year, and Snohomish fell 49 percent.

Here’s another measure of foreclosures for King County, looking at Trustee Deeds, which is the type of document filed with the county when the bank actually repossesses a house through the trustee auction process. Note that there are other ways for the bank to repossess a house that result in different documents being filed, such as when a borrower “turns in the keys” and files a “Deed in Lieu of Foreclosure.”

King County Trustee Deeds

Trustee Deeds were down 34 percent from a year ago, and hit their lowest point since April 2012.

Lastly, here’s an update of the inventory charts, updated with the inventory data from the NWMLS.

King County SFH Active Listings

Snohomish County SFH Active Listings

Very little month-over-month change in inventory in either county. Snohomish continues to post far larger year-over-year gains than King.

Stay tuned later this month a for more detailed look at each of these metrics as the “official” data is released from various sources.

  

About 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.

One comment:

  1. 1

    The Slow Low Inventory Seattle Real Estate Market

    Needs an infusion of the Millenials….trouble is, they aren’t buying it anymore. I read one article today that blames the Millenials for not becoming independent adults on their own in Seattle….like its all their fault, this overpopulated jobless recovery….LOL

    Rate this comment: Thumb up 0

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