The local papers ran some new stories yesterday about the 2008 full-year report from the NWMLS (pdf). I thought the story would be better conveyed through a few simple charts.
Official Word on Microsoft Layoffs: 1,400 Now, 5,000 Total
Here’s the official word on the long-rumored layoffs at Microsoft, courtesy Todd Bishop at TechFlash: Microsoft this morning announced earnings well below its previous estimates and said it will be cutting 5,000 jobs over the next 18 months to adjust to the new economic reality, including 1,400 positions today. The company isn’t saying how many…
Puget Sound Counties December Update
Let’s check in on the NWMLS statistics from around the sound. Here’s where the YOY stats stand for each of the six counties as of December 2008: (Note: The “Sales” data below represents pending sales, not closed sales.) King – Price: -7.2% | Listings: +6.4% | Sales: -16.1% | MOS: 9.6 Snohomish – Price: -11.2%…
Fourth Quarter Sales in the Gutter, Delistings Stable
Let’s take a look at 2008’s fourth quarter closed sales volume for King County: That’s a drop of 31% from 2007, and also 31% from the previous quarter. The “usual” drop from Q3 to Q4 is 10-20%. At this point, I really don’t think sales have much further to drop. They’re practically as low as…
Reminder: Meetup Tonight at 6:00
Don’t forget tonight’s Seattle Bubble meetup. Here are the details: DATE & TIME: Tuesday January 20th at 6:00 PM PLACE: Kate’s Pub (Wallingford; located near I-5 and many bus routes) RSVP: Optional; E-mail eli [at] eligoldberg [dot] com and we’ll save you a spot. Our table will have an improvised “Seattle Housing Bubble” sign. Call 206.313.1914 if you need…