Skip to content

Seattle Bubble

local real estate news, statistics, and commentary without the sales spin.

Menu
  • Home
  • About
  • Contact
  • Reference
  • Speaking
Menu

WCRER: Affordability Drops Again

Posted on August 15, 2008 by The Tim

The Washington Center for Real Estate Research posted their latest “Market Snapshot” data (pdf) this week.

Here’s an article on the data from the Times: Home sales still sliding in state, Puget Sound region

WCRER director Glenn Crellin continues to blame the media and buyer fear for the floundering market:

“Buyers see and hear stories about the collapse of the national housing market everywhere, and that makes them afraid to move forward with a purchase,” said Glenn Crellin, center director.

According to the WCRER, King County home prices rose from the first quarter to the second, but are still around 5% below their 3rd Quarter 2007 peak.

WCRER King County Affordability
Click to enlarge

The WCRER’s affordability index dropped from 76.6 in Q1 to 74.3 in Q2. The low point for affordability was Q2 2007 at 66.1.

When they post the more detailed data from their Q2 report, it can be found here.

There isn’t really a lot to say about this data, since it’s nothing new to anyone who has been regularly following the monthly data from the NWMLS. Prices had a slight spring bounce, but not enough to put them in the positive YOY. Affordability is still in the gutter.

Share:

  • Twitter
  • LinkedIn
  • Facebook
  • Reddit
  • Pinterest
  • Email

Continue Reading

Next Post:
July Reporting Roundup
Previous Post:
DIY Solution for Affordable Housing

Tim’s Other Projects

Dispatches from the Multiverse

Tip Jar

Like what we're doing?

Drop us a tip!

Accounts

  • Log in
  • Entries feed
  • Comments feed
  • WordPress.org
©2025 Seattle Bubble | Built using WordPress and Responsive Blogily theme by Superb