Remember, you can always get access to the Seattle Bubble spreadsheets by supporting my ongoing work as a member of Seattle Bubble.
This is the last post in today’s data catch-up marathon. I’ll also update a few more of the spreadsheets for members, and if the NWMLS posts their June data today I’ll try to get that up as well.
For now, let’s have a look at our “early” view on June stats.
In summary: Listings are still up from a year ago, but not by as much as they have been. Sales are down, but only just a bit.
Here’s the snapshot of all the data as far back as my historical information goes, with the latest, high, and low values highlighted for each series:
First up, let’s look at our inventory charts, updated with previous month’s inventory data from the NWMLS.
The number of homes on the market in King County rose less than one percent from May to June, and year-over-year listings are up 22 percent from June 2018. If this were any other year I’d say that was a huge gain, but it’s the smallest year-over-year increase we’ve seen since April 2018.
In Snohomish County inventory fell 4 percent month-over-month, and the year-over-year growth was a measly 3.9 percent. This is the smallest year-over-year inventory increase in Snohomish County since it flipped into the black back in May 2018.
Next, let’s look at total home sales as measured by the number of “Warranty Deeds” filed with King County:
Sales in King County fell 3.6 percent between May and June (a year ago they rose 3.6 percent over the same period), and fell 6.8 percent year-over-year.
Here’s a look at Snohomish County Deeds, but keep in mind that Snohomish County files Warranty Deeds (regular sales) and Trustee Deeds (bank foreclosure repossessions) together under the category of “Deeds (except QCDS),” so this chart is not as good a measure of plain vanilla sales as the Warranty Deed only data we have in King County.
Deeds in Snohomish fell 0.5 percent month-over-month (in the same period last year they were up 5.6 percent) and were down 11.8 percent from a year earlier.
Hit the jump for the foreclosure charts.
Next, here’s Notices of Trustee Sale, which are an indication of the number of homes currently in the foreclosure process:
Foreclosure notices in King County were down 13 percent from a year ago and Snohomish County foreclosure notices were down 16 percent from last year. Since the numbers are so low, recent changes can appear large in percentage terms, but we’re talking about changes of just a few dozen month to month and compared to the prior year.
Here’s another measure of foreclosures for King County, looking at Trustee Deeds, which is the type of document filed with the county when the bank actually repossesses a house through the trustee auction process. Note that there are other ways for the bank to repossess a house that result in different documents being filed, such as when a borrower “turns in the keys” and files a “Deed in Lieu of Foreclosure.”
Trustee Deeds were up 52 percent from a year ago.
Note that most of the charts above are based on broad county-wide data that is available through a simple search of King County and Snohomish County public records. If you have additional stats you’d like to see in the preview, drop a line in the comments and I’ll see what I can do.
Stay tuned later this month a for more detailed look at each of these metrics as the “official” data is released from various sources.