local real estate news, statistics, and commentary without the sales spin.
Get access to the full spreadsheets used to make the charts in this and other posts by becoming a member of Seattle Bubble. Good news for renters (and maybe hopeful home buyers, as well): 2017 should see the beginning of relief for the Seattle area’s crazy rental housing market. The infamous $750-a-month 130-square-foot ‘prison cell’…
I love this newspaper ad from 1905, spotted by a Reddit reader in /r/SeattleWA:
December market stats were published by the NWMLS yesterday afternoon.
Basically another terrible month for home buyers. Inventory hit an all-time low, but despite that, sales were actually up from a year ago. The one good note is that prices have been flat for the last three months. Small comfort.
December is done, so let’s take a look at the local housing market stats for the month. Short story: Record-low inventory and sales falling just slightly.
Sales came in weaker than last year, and also fell from November to December. Listings dropped to new all-time lows in both counties. Foreclosures are still at their historic lows.
Happy New Year everyone!
Yes, it’s late (vacation), but I wanted to post these charts anyway. I’ll post again later today with the monthly stats preview for December data.
Let’s have a look at the latest data from the Case-Shiller Home Price Index. According to July data that was released this morning, Seattle-area home prices were:
Up 0.2 percent September to October
Up 10.7 percent YOY.
Up 6.6 percent from the July 2007 peak
Over the same period last year prices were up 0.5 percent month-over-month and year-over-year prices were up 8.8 percent.
Seattle home prices as measured by Case-Shiller inched up to another new all-time high in October.