local real estate news, statistics, and commentary without the sales spin.
Now that we’re already a full month into 2015, let’s have a look at our monthly stats preview. First up, here’s the snapshot of all the data as far back as my historical information goes, with the latest, high, and low values highlighted for each series: Listings inventory hit another new all-time low in King…
Let’s check out the three price tiers for the Seattle area, as measured by Case-Shiller. Remember, Case-Shiller’s “Seattle” data is based on single-family home repeat sales in King, Pierce, and Snohomish counties. Note that the tiers are determined by sale volume. In other words, 1/3 of all sales fall into each tier. For more details…
Let’s have a look at the latest data from the Case-Shiller Home Price Index. According to November data, Seattle-area home prices were: Down 0.4% October to November Up 6.0% YOY. Down 11.7% from the July 2007 peak Last year at this time prices fell 0.1% month-over-month and year-over-year prices were up 12.4%. Year-over-year price gains…
Over in the New Yorker (where the issue of foreign buyers is more substantial than a few vague anecdotes): Stop Complaining That I, Zathbog of Planet Cibwarv, Am Inflating U.S. Housing Prices I’m told there’s a familiar narrative that unfolds whenever you try to buy property in a cosmopolitan American city these days. You find…
A little over a year ago, I wrote a series of posts in which I argued that “shadow inventory” (foreclosed homes held off the market by the banks) was nearly non-existent. "Shadow Inventory" Conspiracy Theories Are Nonsense Shadow Inventory Gut Feelings, Rumors, & Anecdotes Undocumented Shadow Inventory Scarce in King County Despite all of the…