October Case-Shiller: Seattle’s Slide Picks Up Steam

The October data from from Case-Shiller has been released, showing that Seattle remained one of only three markets to have positive year over year returns (in addition to Portland and Charlotte), while posting it’s third straight month of declining real estate values: – Down 0.94% between September and October. – Up 3.30% YOY. We now […]

NWMLS: King County SFH Prices Hit 0% YOY.

The November market statistics from the NWMLS are here. Ta-da! Public press release and data pdfs have not yet been posted, but I will update the post with a link once they are. Here is the NWMLS press release, with links to the pdf summaries. Here’s your King County SFH summary: November 2007 Active Listings: […]

September Case-Shiller: Seattle Slide Continues

The latest data from Case-Shiller has been released. Let’s have a look at how Seattle is performing: Down a quarter of a percent August to September. Up 4.69% YOY. Back to back month-to-month declines have as we have now seen from July to September have not happened since 1995. The NWMLS King County SFH Median […]

Median Price Not Telling the Whole Truth

When July’s housing stats came out last week, the most confusing piece of data was that despite skyrocketing local inventory and tightening lending across the nation, the median price still jumped up 2.3% from June, bouncing back into double-digit YOY territory at a 10.6% increase since July 2006. While the local press has their own […]

The Mythical Equity Locust

There are many arguments to be had between the Seattle Bubble housing bulls and bears, but one belief that seems to be commonly shared is that one of the primary drivers of demand and pricing in our market is a steady stream of rich Californians moving up and driving prices up. The bulls argue that […]

Does Job Growth == Home Buying Demand?

An article in the Times yesterday about the Puget Sound’s job recovery following the dot-com bust got me thinking again about the oft-claimed jobs to home prices correlation. The usual assertion goes something like this: “Prices are justified because our economy is strong (i.e. – lots of jobs), and as long as we keep adding […]

Big Picture: Supply vs. Demand

Why have residential real estate prices experienced an unusually rapid increase in last few years? That’s the big question that we all want the answer to, right? There’s one argument that goes something like this: There just aren’t enough homes for everyone. People are moving to the Puget Sound at a rapid pace, and homebuilding […]