Inventory up 5.7% in one month!!
From todays WSJ-
The Seattle metro area showed the biggest increase in supply, with a rise of 5.7% from July, according to ZipRealty. Seattle has remained one of the strongest housing markets in the country, but the supply of homes has been rising quickly, suggesting that the market is now cooling.
The Seattle metro area showed the biggest increase in supply, with a rise of 5.7% from July, according to ZipRealty. Seattle has remained one of the strongest housing markets in the country, but the supply of homes has been rising quickly, suggesting that the market is now cooling.
Comments
I'm not sure if this data by itself means much. Comparing 5.7% with increases during the same periods in the previous years would be useful. Typically inventory increases significantly at this time of the year (esp. Aug & Sept), and drop from Oct onwards.
It's not accurate to say that inventory increases significantly this time of year. The data shows inventory is pretty flat for July/Aug/Sept, and then drops in october. So a 5.7% inventory gain in August, while not all that significant - is definitely atypical. What will be interesting to see is if the trend of growth in inventory holds through october.
Monthly inventory vs. avg inventory for last 7 years
J 87%
F 101%
M 104%
A 110%
M 117%
J 101%
J 102%
A 102%
S 103%
O 100%
N 94%
D 79%