{"id":103502,"date":"2015-12-07T10:40:03","date_gmt":"2015-12-07T18:40:03","guid":{"rendered":"http:\/\/seattlebubble.com\/blog\/?p=103502"},"modified":"2016-01-07T09:06:45","modified_gmt":"2016-01-07T17:06:45","slug":"nwmls-inventory-hits-new-time-low","status":"publish","type":"post","link":"https:\/\/seattlebubble.com\/blog\/2015\/12\/07\/nwmls-inventory-hits-new-time-low\/","title":{"rendered":"NWMLS: Inventory Hits New All-Time Low"},"content":{"rendered":"

Get access to the full spreadsheets used to make the charts in this and other posts, as well as a variety of additional insider benefits by becoming a member of Seattle Bubble<\/a>.<\/em><\/p>\n

November market stats were published by the NWMLS on Friday. Before we get into our monthly stats, here’s a quick look at their press release<\/a>.<\/p>\n

Home buyers, sellers who stay active during holidays are being rewarded during “intense” market<\/strong>
\nInventory remains “critically low,” but there are fewer house-hunters in the hunt during this holiday season so motivated sellers and buyers are seeing success, according to brokers with Northwest Multiple Listing Service. Its just-released statistics for November show year-over-year gains in pending sales, closed sales, and prices, but a steep decline in inventory.<\/p>\n

“The housing market continues to be red-hot on a seasonal basis, but this winter will be even more intense given the dangerously low inventory,” remarked J. Lennox Scott, chairman and CEO of John L. Scott Real Estate.
\n…
\n[Broker Ken]<\/em> Anderson said buyers have remained active all year. “Every month this year our market has improved for sellers. It is really a uniquely good time,” he observed.<\/p>\n

Scott agreed, noting “there is more pressure on new listings than we had last winter.” A higher percentage of homes is selling within the first 30 days, according to his analysis. “This is setting the stage for a frenzy market in the spring of 2016. Even if interest rates go up slightly, buyer demand and low inventory will push prices up,” he believes.<\/p><\/blockquote>\n

When does J. Lennox Scott not<\/em> believe that home prices will be pushed up? (Answer: pretty much never<\/a>.)<\/p>\n

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CAUTION<\/div>\n

<\/p>\n

NWMLS monthly reports include an undisclosed and varying number<\/a> of
sales from previous months in their pending and closed sales statistics.<\/p>\n<\/div>\n

Here’s your King County SFH summary, with the arrows to show whether the year-over-year direction of each indicator is favorable or unfavorable news for buyers and sellers (green = favorable, red = unfavorable):<\/p>\n