{"id":104954,"date":"2018-01-05T17:19:55","date_gmt":"2018-01-06T01:19:55","guid":{"rendered":"http:\/\/seattlebubble.com\/blog\/?p=104954"},"modified":"2018-01-05T17:19:55","modified_gmt":"2018-01-06T01:19:55","slug":"nwmls-listings-drought-intensifies-months-supply-hits-new-record-low-december","status":"publish","type":"post","link":"https:\/\/seattlebubble.com\/blog\/2018\/01\/05\/nwmls-listings-drought-intensifies-months-supply-hits-new-record-low-december\/","title":{"rendered":"NWMLS: Listings drought intensifies, months of supply hits a new record low in December"},"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

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

“Exceptionally Low” Inventory Slows Year-End Home Sales, Contributes to Steep Price Hikes around Greater Seattle region<\/strong><\/p>\n

“While all year we’ve been bemoaning lack of inventory and escalating prices, the statistics show 2017 was a banner year in many respects for real estate in the Puget Sound region and throughout the Northwest,” stated Mike Grady, president and COO of Coldwell Banker Bain. He cited year-over-year gains in both prices and values, commenting “As a result of this strong market, homeowners are experiencing bountiful gains in property values.”<\/p>\n

Brokers expect momentum to continue despite uncertainty about interest rates and taxes. <\/p>\n

J. Lennox Scott, chairman and CEO of John L. Scott Real Estate believes the Central Puget Sound housing market will remain one of the strongest in the nation. “It will be another happy new year for real estate activity.” As the new year unfolds, he expects buyers “will emerge from winter holiday hibernation in big numbers” in part thanks to the Seahawks. “Without the Seahawks in the football playoffs, the 2018 housing market will be more intense earlier in January rather than heating up after the Super Bowl,” Scott remarked. <\/p>\n

Scott also anticipates a “frenzied, multiple-offer market” in the more affordable and mid-price ranges, as well as “good-to-strong” sales activity in the luxury market close to the job centers. Positive job growth and attractive interest rates will propel activity, he suggests, adding “In the more affordable and mid-price ranges, the impact of the new federal tax policy is minimal.”<\/p><\/blockquote>\n

Literally nobody puts off buying a house just because of a few weeks of playoff football. What a stupid thing to suggest. Also, I seriously think Lennox used the word “frenzy” in literally every single monthly NWMLS news release in 2017. He’s having a “frenzy” frenzy.<\/p>\n

Now let’s dive into the numbers for December.<\/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