Follow-Up: Offers 2012 Are Finally Slowing, Just a Bit

Full disclosure: The Tim is employed by Redfin.

Last month I posted a comment from a reader who observed that offers appeared to be slowing down from their torrid spring pace. At the time I pointed out that there was “no slowdown as of the end of May” in the data.

Well, last week Redfin released June data, and there is a slight slowdown in the rate at which homes are going under contract in two weeks or less in the Seattle area:

Percentage of SFH Under Contract in 14 Days or Less

Homes are still moving quite a bit more quickly than the national average and double the rate of just a year ago, but at least the pace seems to have leveled off. This news coupled with the slight increase in on-market inventory the last two months may finally be a glimmer of good news for buyers this year.

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About The Tim

Tim Ellis is the founder of Seattle Bubble. His background in engineering and computer / internet technology, a fondness of data-based analysis of problems, and an addiction to spreadsheets all influence his perspective on the Seattle-area real estate market. Tim also hosts the weekly improv comedy sci-fi podcast Dispatches from the Multiverse.