{"id":103656,"date":"2016-03-08T08:12:37","date_gmt":"2016-03-08T16:12:37","guid":{"rendered":"http:\/\/seattlebubble.com\/blog\/?p=103656"},"modified":"2016-03-29T11:26:45","modified_gmt":"2016-03-29T18:26:45","slug":"nwmls-prices-surging-listing-shortage-drags","status":"publish","type":"post","link":"https:\/\/seattlebubble.com\/blog\/2016\/03\/08\/nwmls-prices-surging-listing-shortage-drags\/","title":{"rendered":"NWMLS: Prices Surging, Listing Shortage Drags On"},"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

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

Home buyer frustration builds as inventory shrinks, prices rise<\/strong>
\nHome prices in King County hit new highs in February as buyers tried to outbid each other for the sparse inventory in much of Western Washington.<\/p>\n

“We’re in for another crazy spring real estate market,” predicts J. Lennox Scott, chairman and CEO of John L. Scott, Inc.<\/p><\/blockquote>\n

Whoa, calm down there, Lennox. Try not to get too<\/em> excited. Wipe a little bit of that froth away from your mouth.<\/p>\n

Scott described current activity as a “Pac-Man” market – “Houses are being gobbled up as soon as they come on the market,” he stated.<\/p><\/blockquote>\n

Today I learned: J. Lennox Scott has apparently never actually played Pac-Man.<\/p>\n

\n
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