Let’s take a look at May market statistics from the NWMLS. I’ll update this post with a link to their press release when they post it. [Update] Here it is: Inventory shrinking, sales rising, prices stabilizing in some Northwest MLS areas Here’s your King County SFH summary, with helpful arrows to show whether the direction…
Tag: SAAS
NWMLS: Huge Gap Opening Between Pending and Closed Sales
It’s time for April market statistics from the NWMLS. Here’s the NWMLS press release: Pending sales in Western Washington rise with improved affordability, buyer incentives Northwest Multiple Listing Service members reported pending sales for April surged 11.4 percent compared to twelve months ago – and rose 21.3 percent from March. Brokers reported 6,918 pending sales…
Seasonally Adjusted Active Supply: A New Measure of Market Virility
With the increasing disparity between pending and closed sales, using “Months of Supply” as it is traditionally calculated to provide a measure of market “strength” is becoming more and more misleading. In order to address this issue, I have devised a new measure of market vitality: Seasonally Adjusted Active Supply (SAAS). To determine the SAAS,…