{"id":104759,"date":"2017-08-08T08:40:30","date_gmt":"2017-08-08T15:40:30","guid":{"rendered":"http:\/\/seattlebubble.com\/blog\/?p=104759"},"modified":"2017-08-08T08:40:30","modified_gmt":"2017-08-08T15:40:30","slug":"nwmls-listings-sales-slip-prices-edge-july","status":"publish","type":"post","link":"https:\/\/seattlebubble.com\/blog\/2017\/08\/08\/nwmls-listings-sales-slip-prices-edge-july\/","title":{"rendered":"NWMLS: Listings and Sales Slip, Prices Edge Up in July"},"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

July market stats have been published by the NWMLS. Here’s a quick excerpt from their press release<\/a> <\/p>\n

“We should be entering the summer doldrums, but I don’t see that happening,” reported Diedre Haines, principal managing broker-South Snohomish County at Coldwell Banker Bain in Lynnwood. “Inventory remains low, but prices and demand continue to increase, prompting murmurs of a looming bubble,” she commented, adding, “Some say yes, and just as many are saying no” when asked about the likelihood of a bubble.
\n…
\nThe leap in prices may have some people crying “housing bubble,” said OB Jacobi, president of Windermere Real Estate. “I still feel confident we’re not headed in that direction. Bubbles result from irresponsible lending practices, but buyers in King County have high credit scores and higher than average down payments. This area also has a high percentage of homeowners who are ‘equity rich’ which means their home is worth more than twice what they owe. For a housing bubble to occur we would expect to see far lower equity, down payments and credit quality.”<\/p><\/blockquote>\n

Home salespeople have a historically good record when it comes to predicting housing bubbles, so you know you can believe what OB Jacobi says. (That was meant to be read with an extremely sarcastic tone.)<\/p>\n

Now let’s dive into the numbers for July.<\/p>\n

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CAUTION<\/div>\n

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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