It’s that time of the month again, when the MLS numbers from the previous month hit the streets and all our beloved local papers rush to press with nearly-identical stories “analyzing” said numbers. The Times, P-I, News-Tribune, Herald, King County Journal, The Olympian, and yea verily even the Puget Sound Business Journal all piped in today with their own stories, and they all sounded pretty much the same. For the sake of brevity, I’ll just present you with some quotes from the Seattle Times’ take on January’s home sales figures:
Those wondering if our real-estate market is tanking — the so-called bubble bursting — will have much to chew on with the latest home sales numbers: They show a Puget Sound area market that’s slowing and speeding up.
King County’s pending sales were down 6.22 percent in January compared with a year earlier, the Northwest Multiple Listing Service (MLS) reported Tuesday. Pending sales dipped 1.78 percent in Pierce County.
It’s the long-term trend that counts. And long term, the local market is expected to moderate but generally head up, Scott [as in John L. Scott Real Estate] and others say, because of limited housing supply and increased demand fueled by job growth.
January’s middling market may be a reflection of noneconomic events, the MLS said.
Last month was Seattle’s third wettest on record, and its 11.65 inches of rain may have put a damper on house-hunting.
The Seahawks’ climb to the NFC championship and Super Bowl XL also likely played a factor, Scott said.
“Now that we’re through the worst of the weather and the Super Bowl has passed, February and March are expected to see a surge of buyers and subsequent sales,” Scott said. “February and March are statistically the most productive months of the year on a daily basis.”
We’re blaming a slowdown in home sales on the Seahawks—the Seahawks. Wow. If that doesn’t cry out “grasping at straws,” I don’t know what does. Take from the numbers what you will, but I really doubt that a football game or three is going to influence any significant percentage of the population in their home purchasing decisions.
(Elizabeth Rhodes, Seattle Times, 02.08.2006)
(Reporter Name, Source, 02.08.2006)
(Dan Richman, Seattle P-I, 02.08.2006)
(Barbara Clements, Tacoma News Tribune, 02.08.2006)
(Mike Benbow, Everett Herald, 02.08.2006)
(Clayton Park, King County Journal, 02.08.2006)
(Rolf Boone, The Olympian, 02.07.2006)
(Puget Sound Business Journal, 02.08.2006)