{"id":1067,"date":"2007-09-06T11:53:00","date_gmt":"2007-09-06T18:53:00","guid":{"rendered":"http:\/\/seattlebubble.com\/blog\/2007\/09\/06\/trendspotting\/"},"modified":"2007-09-06T13:25:03","modified_gmt":"2007-09-06T20:25:03","slug":"trendspotting","status":"publish","type":"post","link":"https:\/\/seattlebubble.com\/blog\/2007\/09\/06\/trendspotting\/","title":{"rendered":"Trendspotting"},"content":{"rendered":"

I’ve been gone a couple weeks on vacation, out of the country – where I was blissfully disconnected from the internet and all news of the US economy. In the course of catching up on goings on, I surfed over to Altos Research<\/a> to see what they were reporting. I clicked through a number of the key population centers in King County and found the following:<\/p>\n

\"Trendspotting\"<\/a>
Click to enlarge<\/a><\/div>\n

Anyone notice a trend here? Now, these charts are based on median asking<\/em> prices for properties that have been pulled off of publicly available sources of listings (e.g. REALTOR.com, Windermere). They do not represent homes closing<\/em>. However, there does seem to be pretty similar trend across these cities. Asking prices have dropped fairly consistently since the late-April\/early-May. As a matter of fact, through a set of random clicks – I only noted two communities (Sammamish and Medina) that seemed to be bucking the trend. I don’t claim this is scientific analysis – but it’s pretty interesting nonetheless. My buddy who runs Altos told me once that changes in asking prices were over 95% percent correlated with changes in closing prices. So if you think about homes taking 60-90 days to close, then shouldn’t we start seeing the same trend in closing prices in August and September? (and when do we get those August numbers, anyway?)<\/p>\n

Addendum from The Tim<\/b><\/p>\n

Speaking of trends, here’s a plot of the weekly “unique visitors” at Seattle Bubble over the same timeframe as the graphs above:<\/p>\n

\"Seattle<\/a>
Click to enlarge<\/a><\/div>\n

We were getting an average of 1,159 visitors per day back in October of last year, then 1,711 in March, and we reached 2,565<\/b> last month. Looks like the word is getting out…<\/p>\n","protected":false},"excerpt":{"rendered":"

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