local real estate news, statistics, and commentary without the sales spin.
March market stats were published by the NWMLS yesterday. Before we get into our monthly stats, here’s a quick look at their press release. Frenzied Market Frustrating Buyers Buyer anxiety is rising as the pace of home sales is faster than brokers are able to replenish inventory, according to members of Northwest Multiple Listing Service….
Let’s have a look at the latest data from the Case-Shiller Home Price Index. According to January data, Seattle-area home prices were: Down 0.5% December to January Up 6.8% YOY. Down 12.2% from the July 2007 peak Last year at this time prices fell 0.8% month-over-month and year-over-year prices were up 11.9%. Year-over-year price gains…
NOTE: If you are subscribed to Seattle Bubble’s RSS feed and are seeing these open threads in the feed, please switch to our official feed at http://feeds.feedburner.com/SeattleBubble Thanks! Here is your open thread for the week of April 6th, 2015. You may post random links and off-topic discussions here. Also, if you have an idea…
Ben Jones, who has been blogging about the housing bubble from down in Arizona since late 2004 at The Housing Bubble Blog linked to my “Welcome to Housing Bubble 2.0” post yesterday, prompting an interesting discussion in the comments. Here’s a selection from the conversation that ensued: Comment by Ben Jones I’ve called this the…
With home prices nearing their 2007 peak levels in the Seattle area (and no doubt exceeding them in some neighborhoods), I thought it would be good to step back from the monthly stats and take a big picture look at what’s going on in the housing market.
To answer the question of whether or not we are in another bubble, let’s compare and contrast the present frenzy to what the housing market went through during the Great Housing Bubble…