local real estate news, statistics, and commentary without the sales spin.
Let’s have a look at the latest data from the Case-Shiller Home Price Index. According to August data that was released today, Seattle-area home prices were: Up 0.3 percent July to August Up 7.6 percent YOY. Down 4.4 percent from the July 2007 peak Last year at this time prices were flat month-over-month and year-over-year…
This is rich. I spotted the ad at right this morning. I laughed out loud when I read it. Specifically the first word there: “keep.” If you’re not wealthy, Seattle is already unaffordable by nearly any metric. Rents are soaring, home prices are hitting new all-time highs, and inventory of both rentals and for-sale homes…
I’d like to introduce a new chart. The “Residential Real Estate Heat Index” is an index I’ve been calculating for a few years, that originally was part of the now-defunct Sound Housing Quarterly newsletter. It rolls changes in the median price, new listings, total inventory, pending sales and closed sales all into a single number to measure the relative “heat” of the market.
Here’s what it looks like for King County single-family homes and condos…
It’s way past time for the monthly reporting roundup, where you can read my wry commentary about the news instead of subjecting yourself to boring rehashes of the NWMLS press release (or in addition to, if that’s what floats your boat).
To kick things off, here’s an excerpt from the NWMLS press release:
Housing market slowdown expected
But prices in most areas are still rising…
September market stats were published by the NWMLS today. Before we get into our monthly stats, here’s a quick look at their press release…