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.
Home sales volume was down considerably from a year ago in both King and Snohomish County last month, dipping over 16 percent in both counties. Meanwhile, the number of homes on the market began the usual seasonal declines, but were still up 83 percent in King County and 63 percent in Snohomish. Foreclosures are still very rare, although the number of notices did tick up a bit month-over-month.
Home sales volume was at its lowest September level in six years for both King and Snohomish County last month, dipping over 22 percent from a year ago. As a result, the number of homes on the market hit its highest point since early 2012. Foreclosures are still at all-time lows…
The 2018 listings surge continued in July, with on-market single-family inventory hitting its highest level since October 2013.
Here’s the overall summary for July: Sales fell both month-over-month and year-over-year. Listings shot up yet again. Foreclosures are still at all-time lows.
Last month we noticed a big surge in listings in King County in our preview data for May, and in June it looks like the trend is getting stronger. On-market listings of single-family homes nearly hit their highest point in four years in June, surging 28 percent in a single month.
The overall summary for June is that sales edged up from May, but saw the biggest year-over-year decline since April 2011. Listings shot up and are starting to form a very interesting trend. Foreclosures are still few and far between.
Yes, it has been over a month since the last update here. What is there to say when the market is the same frenzied nonsense day after day, week after week, month after month? It’s exhausting, and I’m not even in the market to buy a home. If you are, you definitely have my pity.
Even when I’m not posting here, I am still keeping my spreadsheets up to date and sharing them with those who support my ongoing work as members of Seattle Bubble.
Anyway, I’m back because there’s something definitely interesting in our regular monthly “preview” charts for May. Unless something has really broken in my data collection, it looks like we’re seeing a sudden surge of listings begin to pile up.
Now that March is done, let’s look at our regular monthly “preview” charts. Here’s the summary for March: Sales look to be a bit lower than last year, even as the spring bump has begun. Listings are still struggling to make gains. Foreclosures are still nearly non-existent.
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:
If sales start falling off, we could see some hope for buyers later in 2018, but right now it’s too early to make a call like that…