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!

NWMLS: Scarce Listings But Prices Dip Slightly In December

January market stats have been published by the NWMLS. They haven’t put up their press release yet, so let’s get on with the stats.

Still no sign of hope for buyers here or on the near horizon. Listings are way down, sales are still strong, and while the median price did dial back a bit from December to January, it’s still within five percent of the all-time high.

NWMLS: Record Low Inventory As Home Prices Flatten

December market stats were published by the NWMLS yesterday afternoon.

Basically another terrible month for home buyers. Inventory hit an all-time low, but despite that, sales were actually up from a year ago. The one good note is that prices have been flat for the last three months. Small comfort.

NWMLS: Closed Sales Strong (For A November)

November market stats were published by the NWMLS this morning. Here’s their press release:

Real Estate Brokers Expect No Holiday Breather
Sales Stay Strong and Supplies Remain Low

Pending sales of homes hit an all-time high for the month of November according to the latest statistics from Northwest Multiple Listing Service. The report covering 23 counties around Washington state also shows the number of new listings added during the month plunged to the lowest level in 11 months, prompting MLS leaders to predict a busy winter for residential real estate as buyers compete for the smallest inventory since March.

“November’s pending sales for the four-county area of King, Snohomish, Pierce and Kitsap were the highest since 2005. There were 44 percent more pendings than new listings,” noted J. Lennox Scott, chairman and CEO of John L. Scott Real Estate, who described market activity as a mini power surge. “Every time interest rates increase 0.5 percent we see these surges because buyers become anxious about increasing rates – but on a historical basis rates are still amazing,” he remarked.

You can always count on Lennox. Breathless as usual…