local real estate news, statistics, and commentary without the sales spin.
After setting a new all-time low inventory level in November, listings dropped off dramatically yet again to set another new all-time low in December. Here’s hoping we see somewhat of a turnaround in inventory for 2016. If not, expect another overheated year.
November market stats were published by the NWMLS on Friday. This is the first time in quite a while we’ve seen any green arrows for buyers in the summary table. However, it’s hard to get even a little bit excited, given the all-time low inventory level. At this point there are so few homes for sale that it’s going to be difficult for sales to come in very strong.
“This time is different!”
It always is, isn’t it?
October market stats were published by the NWMLS yesterday. I continue to be surprised that prices are not up 10 to 20 percent year-over-year, with the strong sales and weak inventory numbers we’ve seen all year…
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…