NWMLS: Seattle housing market shows no signs of slowing in August

Every month I hope to see some good news for buyers in the numbers. Every month I am disappointed. Listings are still in short supply, sales are strong, and prices just keep going up at a breakneck pace. Sorry, buyers…

NWMLS: Listings and Sales Slip, Prices Edge Up in July

July market stats have been published by the NWMLS. Let’s dive into the numbers for July.

Prices keep climbing as listings are still scarce. What more is there to say? So far this year we haven’t seen any movement in the trends that point to some kind of change coming soon in the market.

NWMLS: Prices are obscene and the market is still stupidly hot, but June saw a record high monthly increase in inventory

June market stats have been published by the NWMLS. Their press release hasn’t been published yet, so maybe we’ll do a reporting roundup tomorrow and take a look at Lennox Scott’s breathless Lereah-esque bloviations.

For now, let’s just dive into the numbers for June.

New listings are coming on at a decent pace and inventory actually saw a decent increase, but buyers are still snatching up most listings very quickly. The average time on market in King County for single-family home sales that closed in June was just 17 days—an all-time low…

NWMLS: “May was a Grand Slam” …For Home Salespeople

May market stats have been published by the NWMLS this morning. Here’s their press release: Brokers suggest improving inventory may mean”season of opportunity” for weary house hunters

Pending sales have now been down year-over-year for four months in a row, but for three of those four months, closed sales have increased, which is certainly a bit odd. Perhaps this is indicative of a shift from last year toward fewer pending sales falling through. I’ll see if I can find anything else interesting in the data about that…

NWMLS: Home Prices Hit New Highs, Listings Still Scarce

April market stats have been published by the NWMLS yesterday. Here’s their press release: Shrinking inventory putting “stranglehold” on sales

You can practically hear OB Jacobi and J. Lennox Scott drooling over all those sweet, sweet high commissions. At least George Moorhead seems relatively level-headed, pointing out that prices might be getting a bit out of control.

Pending sales have been down year-over-year for three months in a row, and now closed sales have finally declined year-over-year as well. That said, even with the drop, closed sales in April came out higher than the April level in thirteen of the last twenty-four years. Given the continued extreme shortage of inventory, it’s no surprise then that strong demand + very low supply = surging prices.

NWMLS: Median Price Surges As Pending Sales Slip

February market stats have been published by the NWMLS this week…

For the second month in a row, the only “good news” for buyers in this month’s numbers is the year-over-year decline in pending sales. Interestingly, although pending sales have been down year-over-year for two months in a row now, closed sales continued to increase year-over-year…

NWMLS: Record Low For Listings, Sales Slip Slightly

February market stats have been published by the NWMLS this week. Here’s their press release.

Housing Inventory Reaches Record Low

Home buyers are in a spring mood, but sellers are still hibernating, suggested one broker while commenting about the latest statistics from Northwest Multiple Listing Service. Figures for February and feedback from brokers indicate record-low inventory is spurring multiple offers, rising prices, fewer sales, and frustrated house-hunters.

“Our robust market has created extreme conditions, and we’re seeing frenzy hot activity on each new listing coming on the market,” reported J. Lennox Scott, chairman and CEO of John L. Scott. “We’re also experiencing some of the lowest inventory levels on record,” he noted.

Frenzy hot! Mad hot! Crazy hot! Hot hot HOT!