Price to Income Ratio Back in Bubble Territory

Price to Income Ratio Back in Bubble Territory

It has been a while since we last looked at one of our primary housing bubble metrics: local home prices compared to incomes. In the next chart I am using the Case-Shiller Home Price Index for the Seattle area (which rolls together King, Snohomish, and Pierce counties) and Bureau of Economic Analysis data on per […]

Seattle-Area Unemployment Dips to Previous Boom Levels

Seattle-Area Unemployment Dips to Previous Boom Levels

We haven’t taken a look at the jobs data in a while, so lets update those charts through June. In this series we look at how the Seattle area’s unemployment rate and approximate labor participation rate stack up to the national numbers. [July 24 Update – The chart above and numbers below have been updated […]

Despite Red-Hot Housing Market, One in Five Pending Sales Still Fail to Close

Despite Red-Hot Housing Market, One in Five Pending Sales Still Fail to Close

With another quarter fully in the books, let’s take a look a the latest data on pending sales volume versus closed sales volume. For this series I roll the pending sales and closed sales data up by quarter, with pending sales offset by one month. In other words, the second quarter numbers below represent pending […]

Sales Mix Shifted Into Expensive Eastside Homes in June

Sales Mix Shifted Into Expensive Eastside Homes in June

With the big increase in the county-wide median price between May and June, let’s take an updated look at how King County’s sales are shifting between the different regions around the county. This data is interesting to keep tabs on since geographic shifts can and do affect the median price. In order to explore this […]

Consumer Confidence Keeps Climbing, Rates Inching Up

Consumer Confidence Keeps Climbing, Rates Inching Up

It’s been half a year since we last checked in on Consumer Confidence and mortgage interest rates, so let’s take a look at a long-overdue update to those charts. First up, here’s the Consumer Confidence data as of June: The overall Consumer Confidence Index currently sits at 101.4, up 7 percent in a month and […]

Mayor’s Affordability Committee Releases Tepid Growth Recommendations

As a follow-up to this morning’s post about the future of single-family housing in Seattle, here’s the final report from the Mayor’s “Housing Affordability and Livability Advisory Committee”: Seattle Housing Affordability and Livability Agenda (pdf) There are a few relevant portions of the report that address single-family zoning. From page 21 of the report: MF.1 […]

Seattle Preparing to Say Goodbye to Single-Family Zoning?

Remember a few months ago, when I suggested that single-family housing in Seattle would be on its way out soon? If Seattle’s population keeps growing, there is a hard housing reality that we’re going to have to face: the death of the single-family home. As of 2013, roughly 43 percent of Seattle’s housing stock is […]