local real estate news, statistics, and commentary without the sales spin.
December market stats have been published by the NWMLS this afternoon. Year-over-year home price gains dropped to their lowest level since March 2012 as inventory skyrocketed, despite the fewest new listings ever in a month. The end of 2018 definitely set up 2019 to be an interesting year in the housing market…
Now that 2018 is completely over, let’s take our first look at the December housing market stats for King and Snohomish counties.
It’s pretty much the same story we’ve seen the past few months, which is good news for buyers: The number of home sales is falling and the number of homes on the market is climbing quite a bit. Foreclosures are still very rare…
November market stats were published by the NWMLS this morning. Home prices slipped to their lowest level since January, and inventory is declining seasonally but hit its highest November level since 2011. Both pending and closed sales continued to slip from last year as well. November’s year-over-year listing growth was an all-time record at a whopping 114 percent.
It’s pretty much the same story as last month: Home sales volume was down considerably from a year ago and the number of homes on the market is up dramatically, nearly doubling from a year ago. Foreclosures are still very rare, although the number of notices did tick up a bit month-over-month.
Let’s have a look at the latest data from the Case-Shiller Home Price Index. According to September data that was released today, Seattle-area home prices were:
Down 1.3 percent August to September
Up 8.4 percent YOY.
Up 30.2 percent from the July 2007 peak
Last year at this time prices were down 0.3 percent month-over-month and year-over-year prices were up 12.9 percent.