{"id":13469,"date":"2010-11-29T09:00:22","date_gmt":"2010-11-29T17:00:22","guid":{"rendered":"http:\/\/seattlebubble.com\/blog\/?p=13469"},"modified":"2010-11-29T14:46:23","modified_gmt":"2010-11-29T22:46:23","slug":"november-king-co-sfh-closed-sales-to-drop-below-1k","status":"publish","type":"post","link":"https:\/\/seattlebubble.com\/blog\/2010\/11\/29\/november-king-co-sfh-closed-sales-to-drop-below-1k\/","title":{"rendered":"November King Co. SFH Closed Sales to Drop Below 1K?"},"content":{"rendered":"<p><strong>Quick note:<\/strong><\/p>\n<p>According to a search of <a href=\"http:\/\/www.redfin.com\/search#!lat=47.43225150000406&#038;long=-121.8024915&#038;market=seattle&#038;region_id=118&#038;region_type=5&#038;sf=&#038;sold_within_days=30&#038;uipt=1&#038;v=6&#038;zoomLevel=9\">closed SFH sales in the last month<\/a> on Redfin, just 763 homes have sold in King County during that time (as of 9:00 AM this morning).  I assume a relatively large number of sales may be back-logged from the long holiday weekend, but even if two hundred homes close today and tomorrow, we&#8217;ll still be below 1,000 for the first time since the market went into a deep freeze in late 2008.<\/p>\n<p>At this point, unless sales <em>double<\/em> from their current count, we&#8217;re pretty much guaranteed that this November will see the second-lowest volume of closed sales in the last 10 years (which is as far back as the reliable data goes).<\/p>\n<p>Pretty much <a href=\"http:\/\/seattlebubble.com\/blog\/2009\/10\/16\/estimating-the-local-effects-and-aftermath-of-the-8000-tax-credit\/\" title=\"\">exactly as I predicted last year<\/a> (before the credit was irresponsibly extended), very few new buyers were brought into the market by the tax credit.  Instead, all the credit did was boost 2009 \/ early 2010&#8217;s numbers at the expense of late 2010 \/ early 2011.<\/p>\n<p>If that isn&#8217;t <a href=\"http:\/\/blogs.wsj.com\/developments\/2010\/09\/07\/home-buyer-tax-credit-price-tag-22-billion\/\" title=\"WSJ: Home Buyer Tax Credit Price Tag: $22 Billion\">$22 billion<\/a> well-spent, then my name isn&#8217;t Marty McFly.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Quick note: According to a search of closed SFH sales in the last month on Redfin, just 763 homes have sold in King County during that time (as of 9:00 AM this morning). I assume a relatively large number of sales may be back-logged from the long holiday weekend, but even if two hundred homes&#8230;<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[8,616],"tags":[387,6,82,513],"coauthors":[],"class_list":["post-13469","post","type-post","status-publish","format-standard","hentry","category-stats","category-counties","tag-closed","tag-nwmls","tag-redfin","tag-tax-credit"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>November King Co. SFH Closed Sales to Drop Below 1K? \u2022 Seattle Bubble<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/seattlebubble.com\/blog\/2010\/11\/29\/november-king-co-sfh-closed-sales-to-drop-below-1k\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"November King Co. SFH Closed Sales to Drop Below 1K? \u2022 Seattle Bubble\" \/>\n<meta name=\"twitter:description\" content=\"Quick note: According to a search of closed SFH sales in the last month on Redfin, just 763 homes have sold in King County during that time (as of 9:00 AM this morning). I assume a relatively large number of sales may be back-logged from the long holiday weekend, but even if two hundred homes...\" \/>\n<meta name=\"twitter:creator\" content=\"@The_Tim\" \/>\n<meta name=\"twitter:site\" content=\"@SeattleBubble\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"The Tim\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/seattlebubble.com\/blog\/2010\/11\/29\/november-king-co-sfh-closed-sales-to-drop-below-1k\/\",\"url\":\"https:\/\/seattlebubble.com\/blog\/2010\/11\/29\/november-king-co-sfh-closed-sales-to-drop-below-1k\/\",\"name\":\"November King Co. 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