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…
Tag: NWMLS
NWMLS: Sales Still in the Gutter—Blame the Weather
Let’s have a look at December market statistics from the NWMLS. Here’s the NWMLS press release: Northwest MLS members expecting "market observers" will become "market participants" Frigid temperatures and record snowfall brought home sales to a standstill for several days in December. The unusual weather, when coupled with the expected holiday slowdown, contributed to a…
Delistings Stabilized in November
Here’s the breakdown of homes on the market and homes that went off the market last month in King County (SFH only). While the number of delistings had been dramatically increasing year-over-year earlier since June last year—even reaching 200% YOY in April—the rapid growth seems to have leveled off, with November’s 1,758 delistings nearly matching…
November Neighborhoods Months of Supply Update
Let’s close out the week with a look at “Months of Supply” for the 30 NWMLS areas in King County. For an explanation of what months of supply means, please refer to the original neighborhood MOS breakdown post. Also, view a map of these areas here. November MOS for King County as a whole came…
Declining Appreciation Closely Tied to Sales Volume
I was going back and updating some of my lesser-used spreadsheets today when I came upon one that I thought was particularly interesting. The graph below is an updated version of something I presented originally in the post Home Buying Demand vs. Price Changes back in April. The chart below takes the year-to-year change in…