local real estate news, statistics, and commentary without the sales spin.
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.
As part of our data catch-up extravaganza, let’s check in in on the latest data from the Consumer Confidence Index.
The overall Consumer Confidence Index currently sits at 121.5, down 7.5 percent in a month and down 4.4 percent from a year ago.
Let’s check out the three price tiers for the Seattle area, as measured by Case-Shiller. Remember, Case-Shiller’s “Seattle” data is based on single-family home repeat sales in King, Pierce, and Snohomish counties.
Year-over-year price growth is falling in all three tiers, with the high tier having flipped to year-over-year losses as of February.
Let’s play a bit of catch-up today with some stats that I’ve allowed to fall behind. First up, the latest Case-Shiller data from a couple weeks ago. According to April data that was released late June, Seattle-area home prices were:
Up 1.1 percent March to April
Up less than 0.1 percent YOY.
Up 30.9 percent from the July 2007 peak
Last year at this time prices were up 2.7 percent month-over-month and year-over-year prices were up 13.1 percent.
The NWMLS published their May stats today, so let’s take a look at how the month shook out for the housing market. The King County median price of single-family homes was down year-over-year in May, the third month in a row of declines. Inventory was up from a year ago again, but the as we mentioned in the preview post earlier this week, the rate of increase is rapidly declining from the all-time high set in December. Pending and closed sales are increasing, but only modestly.