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August Stats Snapshot: 2011 vs. “Normal”

Posted on September 13, 2011September 13, 2011 by The Tim

I thought it might be interesting to take a look at the latest NWMLS data in a slightly different format than usual. In the charts below I have plotted August 2011’s data on closed sales, pending sales, and inventory. Next to that I have also plotted the average values for every August from 2000 through 2010, as well as the highest year and the lowest year for each stat.

Stats Snapshot: King Co. SFH

Closed sales last month came in pretty far below the average (25%), and while pending sales were close to the average, keep in mind that the NWMLS is using a much broader definition of “pending” than they did between 2000 and 2007. Meanwhile inventory is actually lower than average, which was a little surprising to me since just a couple of years ago we hit the all-time high point.

Here’s a look at the month-over-month trends for the three series. Since real estate is typically highly seasonal, you usually expect to see roughly the same changes from a given month to the next each year.

Stats Snapshot: King Co. SFH

Closed sales are the biggest standout here, coming in significantly stronger than the average. I suspect that most of this bump is the result of people in a mini-rush to get interest rates in the 4.5% range, and next month we’ll probably see this number come in below the average.

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August Reporting Roundup: Gutter Momentum Edition
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Foreclosures: Still on the Decline from 2010

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