Puget Sound Counties March NWMLS Update

Here’s an update to the NWMLS statistics for all six Puget Sound counties. I don’t personally want to live in King County, and maybe you don’t either. So, here’s a little graphical look at what the market looks like around the sound. Here’s where the YOY stats stand for each of the six counties as […]

March Neighborhood Months of Supply Update

Here’s the latest update on months of supply, or “absorption rates” for the 30 NWMLS areas in King County. For an explanation of what months of supply means, please refer to the original neighborhood MOS breakdown post. Remember our metric: less than 6 MOS is a sellers market and above 6 is a buyer’s market, […]

CEPR: Maintaining Ownership Makes No Sense

The Center for Economic and Policy Research came out with another great paper this month titled The Cost of Maintaining Ownership in the Current Crisis Here’s an excerpt from the summary (emphasis mine): The collapse of the bubble in the U.S. housing market is creating chaos in financial markets while throwing the economy into a […]

Radar Logic Shows Seattle MSA Price per Square Foot Dropping at 17% per Year

Many of you are aware of the “Residential Property Index” published for the top 25 MSAs by Radar Logic. Radar Logic has a similar business model to MacroMarkets with the Case-Shiller Index (e.g., creating housing-based contracts to be traded on a futures market) but there are some key differences in the way that they calculate […]

NWMLS: Anybody seen my spring mojo? I can’t find it.

One thing I’ll say for the NWMLS, they have been prompt lately about releasing the monthly statistics. Let’s take a look at March, typically the beginning of the strong spring selling season. When the press release with pdf links is released I’ll post it here (though it may be delayed somewhat since I am heading […]

Case-Shiller Tiers: High End Takes a Tumble

Here’s our monthly look at Seattle’s price tiers from Case-Shiller. I’d like to start by answering a few questions about these tiers that came up last month. First, all Case-Shiller data is based on single-family homes only, no condos or townhomes. Also, the Case-Shiller definition of the “Seattle area” is King, Pierce, and Snohomish counties. […]

Case-Shiller: Welcome to Depreciation, Seattle

Home prices in Seattle continue to decline, at an increasing rate, according to the latest data from the Case-Shiller Home Price Index. Down 1.76% December to January. Down 1.25% YOY. In a big surprise to absolutely no one, Seattle is now officially in the realm of year-to-year price declines. What a change from just one […]