November Reporting Roundup: Let’s Predict Interest Rates

It’s time once again for the monthly reporting roundup, where you can read my wry commentary about the news instead of subjecting yourself to boring rehashes of the NWMLS press release (or in addition to, if that’s what floats your boat). To kick things off, here’s an excerpt from the NWMLS press release: Real estate […]

Affordable Home Price Climbs Above Median Price

Affordable Home Price Climbs Above Median Price

As promised in yesterday’s affordability post, here’s an updated look at the “affordable home” price chart. In this graph I flip the variables in the affordability index calculation around to other sides of the equation to calculate what price home the a family earning the median household income could afford to buy at today’s mortgage […]

Affordability Index Bounces Back Above 100

Affordability Index Bounces Back Above 100

Let’s take a look at how affordability is doing in the Seattle area after the last few months of changes in home prices and interest rates. So how does affordability look as of October? With home prices stagnating this fall and interest rates inching back down close to 4 percent, the affordability index moved back […]

Consumer Confidence Hit a Seven-Year High in October

Consumer Confidence Hit a Seven-Year High in October

Before the NWMLS data hits this week let’s check in on how Consumer Confidence and mortgage interest rates fared during October. First up, here’s the Consumer Confidence data as of October: The overall Consumer Confidence Index currently sits at 94.5, up 6 percent in a month and up 31 percent from a year ago. At […]

Consumer Confidence Dipped in September

Consumer Confidence Dipped in September

This is a couple weeks late, but let’s check in on how Consumer Confidence and mortgage interest rates fared during September. First up, here’s the Consumer Confidence data as of September: The overall Consumer Confidence Index currently sits at 86.0, down 8 percent in a month but up 7 percent from a year ago. At […]

Consumer Confidence Expectations Dip Slightly in August

Let’s check in on how Consumer Confidence and mortgage interest rates fared during August. First up, here’s the Consumer Confidence data as of August: The overall Consumer Confidence Index currently sits at 92.4, up 2 percent in a month, 13 percent from a year ago, and at its highest point since October 2007. At 94.6, […]

Another Bubble? Affordability Only Sustained By Low Rates

Another Bubble? Affordability Only Sustained By Low Rates

Continuing our “Another Bubble?” series, it’s time to take a look at the affordability index. As King County’s median home price has surged from $405,400 in February to $468,000 in July, the affordability index has dropped from slightly above the long-term average to just below 100. An index level above 100 indicates that the monthly […]