Here’s an email I received from a reader last week: Clearly Seattle (and many other cities) are lagging the hottest markets in the housing bubble burst and in Seattle at least one thing that’s perpetuating the bubble and keeping prices up is a remarkably low inventory. So the question is: why is inventory so low?…
Author: 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.
Unignorable Slowdown In Tacoma
Surprise, surprise—Barbara Clements of the Tacoma News Tribune reports on a slowing market in Tacoma! If your home’s taking longer to sell, you’re not alone. Home prices are still going up, even though sales have dropped dramatically when compared with 2005. And now that it’s spring – prime home-shopping weather – more for-sale signs are…
"Sizzling," "Strong," "Dynamic…" "Crazy"
Now that the local press has spoken, let’s check in on yesterday’s predictions. “enthusiastic stories … cheering on the huge price gains” – check Elizabeth Rhodes, Seattle Times When million-dollar homes, traditionally the slowest to sell, start flying out the door, it’s a strong signal that the market is sizzling. Kathy Mulady, Seattle P-I Kim…
April: Inventory Up, Pending Sales Down
Breaking News: April NWMLS numbers released: King County Median home price surges to $419,500, Listings up 2%, Pending Sales down 12.5% from April ’05. Get ready for the enthusiastic stories from all the usual suspects cheering on the huge price gains and proclaiming that the idea of a bubble in Seattle has been once and…
Sales, Prices Up Slightly In Olympia
The Olympian wins the contest again for having the first story in my inbox about April’s numbers. Their story only covers the Olympia area, but it should be enough to whet your appetite for the full NWMLS numbers that are supposed to be released later today. In April, home sales rose 10 percent over last…