Around the Sound: King County alone in price drops and big inventory gains

Get access to the full spreadsheets used to make the charts in this and other posts, and support the ongoing work on this site by becoming a member of Seattle Bubble.

I promised an updated look at June data for the outlying counties, so let’s have a look at that. Here’s the latest update to our “Around the Sound” statistics for King, Snohomish, Pierce, Kitsap, Thurston, Island, Skagit, and Whatcom counties.

First up, a summary table:

June 2019 King Snohomish Pierce Kitsap Thurston Island Skagit Whatcom
Median Price $695,000 $515,000 $376,500 $391,657 $344,000 $402,500 $380,000 $417,750
Price YOY (2.8%) 0.7% 7.3% 10.6% 5.8% 5.1% 11.8% 7.1%
New Listings 3,487 1,480 1,751 491 618 207 273 397
New Listings YOY (10.7%) (12.2%) (10.4%) (17.8%) (2.2%) (12.7%) 7.1% (6.6%)
Active Inventory 4,625 1,841 1,945 611 569 350 449 654
Inventory YOY 24.4% 14.4% (7.9%) 3.7% (14.4%) 2.6% 6.1% 7.2%
Closed Sales 2,718 1,215 1,521 432 553 186 213 326
Sales YOY (1.5%) (1.7%) (8.6%) (5.5%) (0.5%) (11.0%) 0.9% (4.4%)
Months of Supply 1.7 1.5 1.3 1.4 1.0 1.9 2.1 2.0

King County is the only place where prices are declining, and it also has the largest increase in active listings compared to a year ago. On the flip side, pending sales were up the most in King County, and it had one of the smallest declines in closed sales (sales rose in Skagit though). In most of the other Puget Sound counties, sales are declining, and listings are either falling or not increasing by much, and prices are rising.

Here’s a look at new listings across the region:

New Listings of Single-Family Homes

New listings fell everywhere but Skagit County in June. Bad news for buyers hoping to find more selection as we head into the summer.

Next up: Active inventory.

Active Listings of Single-Family Homes

Inventory fell in Thurston and Pierce counties, but increased everywhere else. King and Snohomish saw the biggest gains, but both of those were far smaller than the gains we saw late last year and earlier this year.

Here’s the chart of median prices compared to a year ago.

Median Sale Price Single-Family Homes

The biggest increase in home prices in June was Skagit, where prices rose 12 percent. Kitsap was close behind with an 11 percent increase. Every other county was in the single digits.

Closed Sales of Single-Family Homes

Closed sales were down in every county but Skagit, where they managed an increase of less than one percent.

Months of Supply Single Family Homes

This graph is the most telling—every county is still a very strong sellers’ market. Most counties are slightly better for buyers than they were a year ago, but we’ve still got a long ways to go before we get even close to what most people would call a “balanced” market (4-6 months of supply).

If there is certain data you would like to see or ways you would like to see the data presented differently, drop a comment below and let me know.

0.00 avg. rating (0% score) - 0 votes

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.

812 comments:

  1. 751
    JustNoise says:

    First confirmed layoffs “due to trade war” in Puget Sound region (that I know of, anyway). My husband works for a subsidiary of a mid-size engineering corporation out in Mukilteo. ~200 FTE, 70% salaried, 30% hourly. They’re laying off only 8 people today, and mandating that all hourly employees work only 32 hours/week for the remainder of the year. My husband says there will be more layoffs to come by fall if things don’t change. Gossip from his colleagues in similar fields say their companies are in trouble and starting small layoffs in the coming months.

    The gossip up there around Boeing is also that they’re headed for bigly layoffs this fall.

  2. 752
    Ohd1122 says:

    Does anyone have insight into the July numbers? It’s almost September and I have not seen an update from Tim. I assume nothing noteworthy then?

  3. 753
    Erik says:

    RE: JustNoise @ 751
    Your husband probably works for electro impact, Jamco, or some other company that relies highly on Boeing. Because of the 737 max debauchery, Boeing is reducing spending before they start laying people off. That is why your husband’s company is feeling the squeeze.

    Boeing ceo said if timeline slides, Boeing will tighten up even more and need to lay people off. It’s not really gossip, it’s all over the news.

    The example you are seeing is based on this specific situation and is not a product of a poor US economy. Besides, GDP has never even been negative recently. A recession is 2 consecutive quarters of negative GDP and we haven’t even had one quarter of negative GDP.

  4. 754
    QA Observer says:

    RE: JustNoise @ 751

    Regardless, Home prices will continue to go up. Seattle is different. Everyone knows that! Boeing lay-offs have never impacted the area…oh wait.

    Plus with a payroll tax reduction, that decreased percentage will directly allow for increased borrowing by an equivalent percentage, right?

  5. 755
    JustNoise says:

    RE: Erik @ 753 – Nope. His company relies heavily on sourcing reagents and materials from China and works with customers that manufacture American products in China (for example, they make the tooling that Apple uses to produce iPhone circuit boards in China). His company does no business with Boeing and their current troubles are tied to economic uncertainty and the trade war. There are many of these mid-size engineering outfits north of Seattle in similar situations that are not tied to Boeing.

  6. 756

    RE: Erik @ 753
    Yes Erik

    Like I blogged before we need more retired Boeing and FAA Safety engineers reporting the facts, the phony truth that Boeing is too big to fall or the new Trump FAA director [who’d want that job BTW] signing the S/W fix as certifiable is suggested by Boeing to occur in 3 months [4th Qtr 2019]. Wishful MSM fake news in my book.

    I found an URL to support our allegations, it appears non-partisan, do the rest of you Bubble heads agree?

    https://nationalpost.com/news/world/long-before-the-737-max-disasters-boeing-had-a-history-of-failing-to-fix-safety-problems

  7. 757
    formerSeattleite says:

    https://www.marketwatch.com/story/germany-sells-nearly-1-billion-of-30-year-negative-yielding-bonds-2019-08-21?mod=hp_markets

    Can someone help me understand this? How are their investors out there willing to tie up their money for 30 years with a NEGATIVE yielding investment!? This boggles my mind. Logically, the only reason I see doing this is if you anticipate the returns will be even WORSE in the coming years — i.e. -0.1% return is better than say a -5% return. But if that’s the case, and people are anticipating things to be VERY bad, doesn’t that mean we’re in trouble now? I don’t want to sound ‘doom & gloom’ but is the world economy about to collapse!? Serious question…

    How are western Europe economies ‘doing well’ when almost all of them have negative interest rates!? I don’t understand this… these world economies feel more like a house of cards than anything. But I’m no economist so maybe I completely am missing the point?

  8. 758
    Eastsider says:

    RE: formerSeattleite @ 757 – Here are my thoughts. The developed world is following Japanese footstep. The Nikkei index is still below its peak 30 years ago. So a -.1% treasury return would have far outperformed the stock and housing markets. Note that the current Nikkei index would have been significantly lower if not for BOJ’s majority ownerships of most Japanese ETFs. At its low, Nikkei lost 82% of its value. That was 10 years ago before BOJ intervened heavily in the stock and bond markets. So when you have below market interest rates, you can expect asset deflation and defaults in coming years/decades. The alternative is Venezuela.

  9. 759
    formerSeattleite says:

    RE: Eastsider @ 758 – Thanks Eastsider. You mentioned asset deflation — are you thinking there’s a good chance we’ll see asset (i.e real estate) deflation in some of these European economies where there’s negative interest rates?

  10. 760

    Good News Bubbleheads

    https://www.yahoo.com/finance/news/low-interest-rates-give-housing-market-a-boost-144124709.html

    And Trump is mad at the federal reserve for not lowering the interest rate 100 pts. Stocks back up 200-300 points today as school sales and home improvements lead the way. Last week’s deficit has disappeared this week in the stock market.

    I hear luxury homes sales are slumping due to SALT [$10K federal tax deduction limit], Seattle’s OK too, even if the property tax exceeds $10K, I assume they got the partial $10K max tax write off anyway. Its states with a income tax too that got screwed, I believe the state sales tax federal tax deduction disappeared?

    Smile, the rain today is preventing smoke pollution from camp fires?

  11. 761
    Eastsider says:

    RE: formerSeattleite @ 759 – I would use negative real interest rate and that includes practically 100% of EU bonds – result of ECB actions. IMHO deflation is in the card. (The alternative Venezuela is not going to happen because governments will collapse.)

  12. 762

    Homeless Camps Growing Huge In Seattle

    “…The Seattle Times
    MORNING BRIEF
    Wednesday, August 21, 2019
    Tent city moves
    Seattle faces crucial choice after famous legal homeless camp moves to illegal spot
    Tent City 3 has moved more than 90 times over its nearly 20-year history, usually hosted by a church or university. But this time is different from most: After plans for a new site fell through at the last minute, residents packed up and went to city land next to I-5 in Ravenna. The move forces Seattle into a big decision. (Photo: Ken Lambert / The Seattle Times)
    NEED TO KNOW
    There may be a break in the mystery of who gunned down federal prosecutor Thomas Wales in Seattle 18 years ago. An Everett woman has been charged with lying to a grand jury about what she was told by a suspect in Wales’ 2001 killing in his Queen Anne home. Here’s our timeline of the frustrating quest to bring a killer to justice.

    Boeing is hiring hundreds of temps to help prepare for the 737 MAX’s return to service. The company is dangling the offer of paid housing and a meal allowance for workers in Moses Lake. Meanwhile, the FAA is cautioning airlines that sensors tied to two deadly MAX crashes are vulnerable and must be carefully maintained.

    Where would a recession hit the Puget Sound area hardest? With talk of an economic downturn getting louder, columnist Jon Talton zooms in on the companies and industries that could be especially vulnerable. A look at the data shows why economists and top government officials are worried. President Donald Trump has plenty to say about the economy, too, and it’s time for a fact-check on his remarks.

    The King County sheriff has stopped using a key crime-fighting database after learning that immigration officials can peer at the personal data it contains. The halt could have widespread implications for solving crimes ranging from thefts to homicides….”

    Seattle Times is a partisan news source, its generally open border slanted….that said, a few comments about the Wednesday morning ST news brief to level the playing table?

    Boeing hiring temporaries at Moses Lake for the MAX 8 before FAA certifies the S/W revision as the fix? Police sharing of criminal data is halted to protect illegal alien identities [why is that good?]? Political bent recession talk during a DOW surge this week? Believe everything ya read….LOL

  13. 763
  14. 764
    richard says:

    The top five regions that “recession” is being googled…

    https://www.zerohedge.com/s3/files/inline-images/2019-08-20_14-29-52.png?itok=cvl3cqCc

  15. 765
    richard says:

    top 5 region of googling “how to prepare for a recession”, we are at the top!

    https://www.zerohedge.com/s3/files/inline-images/2019-08-20_14-45-23.png?itok=ClXZx0Aj

  16. 766

    I’m up to my eyeballs in work…but just noticed a bunch of people around the Country watching a live video Q and A on Real Estate and it is happening here in Seattle, so I’m posting the link to it. It started about 5 minutes ago. I’m too busy to watch it but thought someone here might want to watch. They look like new startups in the Real Estate sale and rental space being questioned. Not sure if you can view it if you don’t have facebook.

    https://www.facebook.com/NARdotRealtor/videos/347198289495078/UzpfSTExODIxNzQ4Mjk6Vks6MjYxNzM5NTA2ODMyMjcxNA/?multi_permalinks=2617395068322714&notif_id=1566425575383092&notif_t=group_activity

  17. 767
    Erik says:

    RE: JustNoise @ 755
    I stand corrected.

  18. 768
    Erik says:

    RE: softwarengineer @ 762
    If Boeing is hiring temps and talking like they expect to meet the timeline, I’m beginning to believe they really will meet their timeline. If I can hang on until they launch the nma, I should be safe for 4 years even if we have a major recession.

    I need a major recession, cash to buy investments, and a job. With those 3 things, I should be able to get enough cash flow to retire early. Snowball my rental mortgages, and I’ll be in great shape.

  19. 769
    Blurtman says:

    Lately, I am getting a ton of Leavenworth homes for sale in my Redfin feed. I wonder?

    In Risk-Prone Areas, Fire Insurance Is Getting Harder and Harder to Come By

    Some companies are no longer writing new policies in high-risk areas, others are going so far as to drop long-time customers and almost everyone is raising rates. That’s sent California homeowners scrambling to find another insurance company in places like Alpine, a town of 15,000 near the Cleveland National Forest.

    https://www.voiceofsandiego.org/topics/news/in-risk-prone-areas-fire-insurance-is-getting-harder-and-harder-to-come-by/

  20. 770

    RE: Erik @ 768
    FAA Certification Comes First No matter What

    And its milestone is unknown based on late July news to date, check it out.

    https://www.cnet.com/news/boeings-737-max-8-all-about-the-aircraft-flight-ban-and-investigations/

    Last I heard the FAA was getting grilled by the DOJ over poor handling of the MAX 8 too in Congressional Hearings…is there an IG report? Don’t count your chickens before they hatch. This could be a long legal affair like the Mueller Witch Hunt. Google and Facebook have ethics problem under Congressional Hearings too, so the Boeing/FAA aren’t the only ones in the cross hairs.

  21. 771

    RE: Erik @ 768
    I Hear Ya

    The Recession isn’t coming soon at a theater near you, not with full employment and bank stocks growing in value.

    https://money.usnews.com/investing/stock-market-news/slideshows/the-best-bank-stocks-to-buy-this-year

    I do know we’ll have a recession if the Democrats hike taxes like they want to for MASS spending….that’s a for sure. I see this as unlikely too and so does Harry Reid [D] who says Open Borders and Medicare for All will kill the Open Border Party….Harry Reid is close to death, but speaks his mind while he’s alive. What is Biden’s agenda on Trump’s tax cuts to the average Joe? Who knows, he tells us almost nothing.

    We’re a long way from a recession whether we we call Trump a liar or not. Facts create truth, truth doesn’t override facts like Biden’s gaffe.

  22. 772

    RE: Blurtman @ 769
    They Must Be watching for Homelessness Camp Fire Smoke This Year

    Because camp fire wild fires are way down this year [yet California is in a Summer drought with high temperatures]. The Pacific NW had good rainfall this Summer too, that’s helped too I imagine, especially Eastern Washington. I can imagine a cloud of camp fire smoke appears and the neighbors are out with pitchforks and water buckets [its made us more paranoid now]….LOL

  23. 773

    Governor Inslee Dropped out of the Open Border Party Primaries

    https://www.yahoo.com/news/washington-gov-jay-inslee-says-011311347.html

    He was doing poorly in the polls.

  24. 774

    RE: softwarengineer @ 773
    BTW, Read the Comments Section on this Inslee Article

    How did that Yahoo get elected anyway? Almost everyone from this State’s voters hated him, if the blogs were a polling devise…I call it media brainwashing, psychologists call it the “Trump Derangement Syndrome”. Washington State must have this mental illusion problem bad. See ya at the election booth in 2020, vote Open Border Party, most do in this State….it must be some high quality weed affect?

    Facts are unimportant, truth can contradict facts..yeah right….LOL

    Come November 2020 it will hit the fan again [recent polls won’t matter]….and an end to Trump’s Phase I tax reductions on average Joe incomes will not be the way the Open Border Party beats Trump, no way in my book. Then you’ll be paying high King County property tax increases without that extra money….lose/lose in my book. And where did they drum up Chinese Tariffs would cause a $1000 more on pocket book loss? Fake News in my book, until we can point at the products we currently buy actually going up in price…not alleged, actually…read my words carefully. I haven’t seen anything go up in price, actually Dairy products have lots of sales now….[$1.99/gal milk and $5 for two lbs of cheese]…I got gas at Fred Meyer for $2.79/gal with my 20 cent discount, etc, etc…

    How about building supplies and school supplies? Spending about the same as last year? I have seen COMCAST, Insurance and Property taxes, car tabs go way up in 2019, but what’s that got to do with China tariffs? LOL

  25. 775
  26. 776
    TheBenBernank says:

    RE: richard @ 765 – Interesting. Why would this be regional? I wonder why…

  27. 777
    TheBenBernank says:

    RE: softwarengineer @ 762 – That part about the King County Sheriffs ignoring the crime data is ridiculous. Are they here to serve and protect us or is their first priority to engage in useless social activism (like seemingly the rest of the world)? I can’t wait to leave for Snohomish county.

  28. 778

    RE: softwarengineer @ 774
    65 Inch Flat Screens From China for $118 at Walmart, at a Theater Near You

    Tariffs have brought electronics way down in price?

    https://www.yahoo.com/lifestyle/tcl-4k-tv-deals-walmart-190321485.html

    Hey Bubbleheads, contradict SWE and give me “actual” proof prices are going up with tariffs…they aren’t. Facts contradict fake news partisan bent truth.

  29. 779

    RE: TheBenBernank @ 777
    I Blame the current MASS Murders On Open Border Lawlessness

    We shelter killers and organized crime in the name of toilet Open Border Party lawlessness. This sounds more like Venezuela than America.

    Read Dean Koontz’s books in 2019…these inter-state law tracking computer data is how the FBI nails crazy murderers and such…and Washington State is against stopping crime? No wonder there is so many crazy gun toting killers we can’t prosecute.

  30. 780

    RE: TheBenBernank @ 777
    Its Not Much Better in Snohomish County Either

    My old friend bought 75 year lease land from the Marysville Indians and his home is toast in 30 years now….they still property tax his 5 acres at normal land prices too…I checked. His home is worthless now…

  31. 781

    RE: Brianna @ 775
    LOL

    Interest rates go up and I profit as a retiree. But the federal deficit can’t shoulder big interest rate increases and maintain entitlement contracts the Uber Rich want to breach, like Social Security. Its a mess IOWs. BTW, if Social Security goes down the toilet, Seattle home prices goes down with the brown stuff.

    I’m set at 0% interest retirement planning anyway…everyone should plan their retirement assuming their savings earn no interest. Its that simple. The difference between annuity payments at a 0% and 1% interest rate after 20 years is almost no monthly income loss…do the math folks…ya see why I scream “get your $CASH$ now” out of those useless tax free 401Ks with 0-3% interest? LOL I’m transferring my lock box money into bite size $CASH$ payments [lower federal tax bill] and saving it all too in MM accounts…that money I can wire transfer today if I wanted to.

    These Ivy League financial advisors are educated idiots? They make all their money selling “how to” books anyway…

  32. 782
    formerSeattleite says:

    I’m seeing a ‘descent amount’ (subjective, yes I Know) of homes on the market over 30 days, some even 45 days, and some even 60+ days. (Looking at Eastside market: Renton, Kent, Auburn, Burien, Des Moines) For sure more than I’ve ever seen in the last 4 years. Probably a good indication we’re at least at peak price appreciation if not over the peak.

    Can some of the real estate agents chime in on what they’re seeing? Then again, asking a real estate agent if they’re selling homes is like asking a car salesman if they’re selling cars or are the cars just sitting on the lot, right? Expecting anything more than that is probably just wishful thinking..

  33. 783
    richard says:

    RE: formerSeattleite @ 782 – what do you expect an agent will say? “it is a more balanced healthy market(still a seller market), no way to see an explosion in inventory.. don’t expect a 2008 like crash… If you think the price will go down , dream on!”

  34. 784
    uwp says:

    By richard @ 783:

    RE: formerSeattleite @ 782 – what do you expect an agent will say? “it is a more balanced healthy market(still a seller market), no way to see an explosion in inventory.. don’t expect a 2008 like crash… If you think the price will go down , dream on!”

    If I told you we are at lower SFH inventory now than we were last August, would you believe me?

    We simply need to get Justme in here with his inventory graphs.

    He used to post those all the time.

    I’m trying to figure out why he stopped…

  35. 785
    Blurtman says:

    By Erik @ 768:

    RE: softwarengineer @ 762
    If Boeing is hiring temps and talking like they expect to meet the timeline, I’m beginning to believe they really will meet their timeline. If I can hang on until they launch the nma, I should be safe for 4 years even if we have a major recession.

    I need a major recession, cash to buy investments, and a job. With those 3 things, I should be able to get enough cash flow to retire early. Snowball my rental mortgages, and I’ll be in great shape.

    But this time, the unwashed masses will be encouraged to occupy the rental properties and homes of the bourgeoisie.

  36. 786

    RE: JustNoise @ 751
    Boeing Did the Same Stealth Layoffs in the late 2000s, so did Microsoft

    I’d look at the parking lot, if its thinner with cars…there’s less employees.

  37. 787
    LessonIsNeverTry says:

    RE: uwp @ 784

    Fascinating how much this market changed in early summer! Every other year since 2013 inventory topped in September. This year it topped on June 29th (although I think the inv feed on this site had data issues in that time frame). Still, obviously an unusual year compared to recent ones.

    Regarding Justme, I like the graphs they provide but have found the correlation of declining chart frequency to declining active inventory to be humorous.

  38. 788
    uwp says:

    By LessonIsNeverTry @ 787:

    RE: uwp @ 784

    Fascinating how much this market changed in early summer! Every other year since 2013 inventory topped in September. This year it topped on June 29th (although I think the inv feed on this site had data issues in that time frame). Still, obviously an unusual year compared to recent ones.

    Yeah. A pretty strange year so far. The snow in February, plus everyone on edge about a pull-back in housing, and now the early slow-down in inventory build… Not sure what it all means for the next year. It’s a weird time to be a buyer or a seller.

    I’ve mentioned this before, but despite the fact that Justme thinks I’m a bubble-monger or whatever, our family doesn’t mind lower house prices because even though we own, we’re looking for something bigger as the family grows. I’m not out here rooting for 10% yearly increases, I just don’t think a collapse would be good for the area.

  39. 789

    Harmful Electrical Magnetic Frequency (EMF) Radiation From 5G and WiFi Routers in Your Home

    I just ran my Milligauss EMF meter on my WIFI Xfinity Internet Modem Computer and its green at 1-2….my laptop touch screen [mouse replacement] is yellow at 2-3 readings, about twice as bad.

    They say the 5G EMF cell tower is like 40 reading, but if your home has one near you, use a meter to check inside your house.

    A slower internet is a good thing? Less WIFI EMF radiation? I limit my laptop and iPhone usage, the old analog cell phones were especially bad. Even my old 3G digital spurts a big EMF 10+ on start up. Old calculators are bad too. 5Gs are much worse too.

    The Milli Gauss EMF meters go for about $100 and everyone should own one. My portable air conditioner was red EMF too, I pushed it 5 feet from my bed and got it down to 2-3 EMF at my feet.

    Imagine those hotel air conditioners right next to your head…LOL

  40. 790
    Any says:

    So SWE wears tinfoil hats, big surprise there…

    I don’t care what your EMF meter reads, it’s not hurting you…

    And you won’t measure anything from 5g in your house unless you have LOS to the tower through a window. mmWave doesn’t doesn’t pass through walls.

  41. 791

    RE: uwp @ 788
    I Read in Yahoo News That Trump Plans Deficit Reduction With Social security and Medicare Reduction

    LOL…I ignored that Open Border news, I need a Trump Twitter “in writing” or its most likely fake 2nd party verbal allegations on 2020 budget planning…

    Trump pledged no cuts in either Social Security or Medicare, but did mention cutting the employee’s 6.2% payroll deduction like Obama did with Executive Order [BTW, how does that reduce the deficit Yahoo news?]. We pay more into Social Security [I believe the employer pays 7.5% too] than we’ll draw out in a lifetime, Trump knows that too. Medicare has so many individual costs added its becoming expensive insurance even paying into it all your life. Trump froze the Part B [doctor visits] Medicare deduction at $135/mo for 2019, it was $134/mo. Part D [prescriptions] monthly charge too, but I have pension supplied Blue Cross [$526/mo cost to me for my part] so declined Part D. Medicare and Medicaid cover no dental expenses, Medicaid used to, but I haven’t checked if special needs children get dental from Medicaid, they might [they used to a decade ago], but its unlikely today. Part A [hospital] is free.

  42. 792

    RE: Any @ 790
    I Have a Nuclear Engineering Background

    What are you, a college dropout? I’m qualified to state facts about radiation, you are out of your league….LOL

  43. 793

    Home Inspections Done By Robots Technology is Already in Production

    We don’t need more workers, we need more robot repair and maintenance jobs now?

    https://www.hcmsystems.com/products/palletizing/collaborative-robotics?_vsrefdom=adwords&msclkid=46c770e5da8018def7eb2d84b35a6ed8&utm_source=bing&utm_medium=cpc&utm_campaign=**LP%20Cobots&utm_term=%2BInspection%20%2BRobots&utm_content=Inspection%20Robots

    Sounds like these robots crawling into tight corners perform much better than humans detecting plastic filled foundation voids and rot/insect coverup and underlining “white-washed” foundation/brick cracks covered up [especially “fire danger” chimneys without steel inserts]…our old $1M museum piece homes built a century ago in Seattle are doomed now? LOL …time to send the bull dozers in?…

    In time I see them renting home inspection robots out to buyers and sellers…the humans miss too much.

  44. 794
    Deerhawke says:

    RE: uwp @ 788

    Maybe the best explanation of the peaking of inventory this year is that the market is reverting to a more “normal” annual inventory curve.

    A friend who is looking for a house in the Northeast Seattle area keeps saying that much of the inventory is “leftover garbage” (bad location, condition, price) that has “prairie-dogged” on and off the market for a year. Many of the houses are actually detached townhouses. Or they are really too big and expensive or they are too small and won’t fit his family. At any given time, there are only a few houses that come close to his criteria.

    My guess is that it will revert to the kind of annual inventory curve we saw in 2013 and 2014. A pessimist might see us reverting to the annual inventory curve of 2015 and 2016

    Or on the other hand, if we keep on with the kind of national economic policy we have seen recently, maybe things will get a lot cheaper (even here) because we will have a nasty politically triggered recession. It is hard to not to be pessimistic when the bozo in the oval office is calling the head of the Fed an enemy of the people.

  45. 795
    richard says:

    the economy is held up by low interest rate. it has little to do who is in white house. trump didnf inherit a “great” economy from obama and he didnt make the economy great either. it is all media hype to make buyer feel comfortable to pull the trigger. nowedia reverse the course to use recession to get rid of trump.

  46. 796
    Deerhawke says:

    RE: richard @ 795

    A good article using actual facts and statistics on the economy.

    https://www.washingtonpost.com/politics/2018/09/18/trump-economy-versus-obama-economy/

  47. 797
    Blurtman says:

    By richard @ 795:

    the economy is held up by low interest rate. it has little to do who is in white house. trump didnf inherit a “great” economy from obama and he didnt make the economy great either. it is all media hype to make buyer feel comfortable to pull the trigger. nowedia reverse the course to use recession to get rid of trump.

    When was the economy good, Richard? And how are you doing, personally?

  48. 798
    Any says:

    RE: softwarengineer @ 792

    More qualified than you SWE to talk about the subject, guaranteed. But don’t take my word how wrong you are, lets see what the experts have to say about it (even though your tinfoil hat probably keeps you from believing the scientific consensus.)

    https://www.who.int/peh-emf/publications/facts/fs304/en/

  49. 799
    richard says:

    RE: Blurtman @ 797 – holding cash with no buying opportunity. waiting for FED’s inflation slaugter, not good.

  50. 800
    richard says:

    RE: Deerhawke @ 796 – wasington post is biased against trump. i can garantee you they can come up with an economy strong article right before 2008 crisis. with high living cost,the consumer will further indebted to support this “strong” economy. unless landlord class spend more on consumption which i doubt .

  51. 801
    Ardell DellaLoggia says:

    RE: Deerhawke @ 794

    Still not sucking air. :)

    One of my clients locked in a 30 year fixed at 3.375% with no cost today. Pretty crazy.

    Listing one in Phinney Ridge on Thursday morning at 1 a.m. My standard list day and time. Never over confident this year even with low rates.

  52. 802
    Blurtman says:

    RE: richard @ 800 – The MSM has been yet again been exposed as nothing but yellow journalism. The Russian collusion issue is but one example, as well as illustrating how many people are easily subject to having their buttons pushed. And then there is the Kavanaugh fiasco, illustrating how many people, including politicians and representatives, are insane hypocrites as well. I did not vote for Trump, campaigned for Bernie and voted for Jill Stein, and without a doubt, he is red meat for the dumbed down, reactionary liberal and leftist electorate and press. But we have seen the enemy, and he is us.

  53. 803
    Erik says:

    RE: Deerhawke @ 796
    Washington post is not a credible news source anymore. Like Richard said, #fakenews

  54. 804

    The Seattle Rats are Leaving the Sinking Ship Horrified

    We’ve become worse than Detroit for folks wanting to leave the city for good, we’re 7th place in the nation BTW.

    https://moneywise.com/a/ch-b/people-in-these-us-cities-most-want-to-get-out_may2019/p-12

    The Open Border Seattle Times would never print this story BTW…its a Moneywise MSM URL; probably neutral and just Raw Data driven facts; no fake news bent Mother Goose Tale.

    I see Spokane rated poorly too; folks want out of Washington State….period. SWE wears a tin foil hat….hey that makes me look like the Scarecrow in Wizard of Oz…LOL

    It is was it is. I’m sure the Governor Inslee contribution to more OVERPOPULATION killing off the Orcas and allowing lawlessness [allowing blockage of ICE criminal data to federal computers to catch crazy MASS shooters and such]. My gosh if this political nonsense kills folks [it does] then Open Border Pontious Pilate deserves the crucification too..no wonder the mental health background checks to stop MASS shootings or vetting has loopholes….ban the guns and let the criminals roam free instead of encouraging law enforcement? Ask our buddy city, San Francisco….BTW maybe they’re leaving because those who stay vote in the same Open Border Swamp Monsters anyway and they’re sick of the hypocrisy and property taxes…that’s what I hear.

  55. 805

    RE: Erik @ 803
    Actually Erik

    Washington Post does a much better job than the Seattle Times. The Enoch Times from San Francisco is the best unbiased MSM source I’ve found to date, which mean the Open Border MSM hates it.

  56. 806

    RE: Blurtman @ 802
    I Voted Nader in 2008

    Both Obama and McCain were Open Border nuts in my book. I voted Perot in the early 90s too, the choice between Clinton and Bush with NAFTA strangling American auto engineering made Perot’s statement about NAFTA “that giant sucking sound of lost jobs to Mexico” resonate with me. Perot was right too, now Congress get off your duffs and vote in the NAFTA replacement….Trump has it gift wrapped and ready for you to sign.

  57. 807

    RE: Ardell DellaLoggia @ 801
    Ardell is Recession Proof

    She’s a hard worker and stays up all night to get it right. Get some rest too Ardell, we all need sleep too. I’m proud of you Ardell, I always was.

    Perhaps the movement out of Seattle will help with the quality of inventory to choose from [as it grows and rentals become vacant]…I sure hope for your sake it does. OVERPOPULATION is making it hard to drive in this city too, a thinning of the cars could help too.

  58. 808

    Good News for Savers as Interest Rates Plummet

    https://banking.citi.com/cbol/savings/high-yield-savings/default.htm?channel=cards&Promo_ID=4CEWQH4ZENUSAD&intc=2~2~51~1~190101~3~BANKACQ~EC_P_HYSA_07192_3N*ALON**7*50*17*S*&JFP_TOKEN=5R1LT55S&BT_TX=1&ProspectID=0872798EAC8643E4845B708A8A38440B

    Looks like a MM account with a small fee and $1500 min balance….2.36% too, check it out…you can link it to checking [quick money transfers] for a small optional $10/mo fee too.

    Hey….the 30 year mortgage is 3.5% and this allows savers to still make some money anyway?

    Citibank has much better security IMO on credit cards and identity fraud….if they smell a whiff of it…they change your account number immediately. Mandatory change too. They only have 1% Cash back on charged items paid on time…but much better security too IMO. My credit card number has been changed almost yearly by Citibank as IT hackers steal my personal information in vane. Citi impresses me….and you don’t need those useless Norton services that don’t work at all…I know. Citi is free.

  59. 809

    RE: softwarengineer @ 774
    The Only Prices I See Going Up are Over Priced Sized Pea Cars from Foreign Engineers, Perhaps That’s Tariff Related?

    Example:

    Kia Sedona $27K base MSRP….Horrible 24 MPG HWY too BTW
    Chrysler Pacifica , MSRP $27K too [28 MPG HWY BTW, probably a lot higher than that too]

    2019 Kia Optimas go for about $30-35K [2019 Chargers MSRP at $31K base, but $26K with brand loyalty discount] and are rated 275 HP for the six cylinder….yet they could have 350 HP and my 2014 six cylinder 300 HP [40 MPG driving 45-52 MPH Hwy, 35 MPG driving 60-65 MPH HWY] Dodge Charger transmission will blow ’em off the road….LOL…Asian engineered transmissions are junk IOWs.

    I just bought a sign for my carport: “Dodge Charger parking Only, all other cars will be scrapped”….LOL

    Ya won’t read that in Car and Driver [Japanese Owned?] MSM either….use your iPhone and video record your speedometer and a stop watch to get real acceleration raw data.

    I know, the Kia is more politically correct to the globalists…the auto mechanics call Kias a joke too, ask ’em.

    FCA has a $5K brand loyalty discount too, Kia doesn’t.

    I won’t go in to Japanese and European “pea sized” cars….they’re off the Richtor Scales in price too, before tariffs too.

  60. 810
    uwp says:

    Wow. This is some good stuff SWE.

    I’m pretty sure the Hearst family owns Car & Driver.
    (Of course, the Hearst family is a gold mine for conspiracy theories as well)

  61. 811
    Deerhawke says:

    RE: Ardell DellaLoggia @ 801

    I think your Seller on Phinney Ridge will do fine. I am sure with your advice, they will price it well and offer a good value proposition. The fact that there is not a ton of inventory is always a big help.

    One quick question. Why not wait until the day after Labor Day when most people are back in town?

  62. 812

    RE: softwarengineer @ 807

    Thanks SWE. You should friend me on facebook. I often do some blow by blow, sometimes funny, posts while I’m staging a house. You’d have to PM me though so I know the friend request is from you unless you use SWE on facebook. :)

Leave a Reply

Use your email address to sign up with Gravatar for a custom avatar.
Your email address will not be published.

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

Please read the rules before posting a comment.