{"id":19233,"date":"2012-03-05T11:44:11","date_gmt":"2012-03-05T19:44:11","guid":{"rendered":"http:\/\/seattlebubble.com\/blog\/?p=19233"},"modified":"2012-03-05T15:12:56","modified_gmt":"2012-03-05T23:12:56","slug":"nwmls-inventory-shrinks-sales-climb-bleeding-slows","status":"publish","type":"post","link":"https:\/\/seattlebubble.com\/blog\/2012\/03\/05\/nwmls-inventory-shrinks-sales-climb-bleeding-slows\/","title":{"rendered":"NWMLS: Inventory Shrinks, Sales Climb, Bleeding Slows"},"content":{"rendered":"<p>February market stats have been compiled by the NWMLS.  Their press release isn&#8217;t up yet, but you can <a href=\"http:\/\/www.nwrealestate.com\/nwrpub\/common\/news.cfm\" title=\"NWMLS Press Release\">read it here once they do publish it<\/a>.<\/p>\n<p>Since we don&#8217;t have any amusing prose to poke at, we&#8217;ll just dive right into the stats and save the response to their salesmanship for tomorrow&#8217;s Reporting Roundup.<\/p>\n<div style=\"width: 590px; margin:0 auto 15px; border: 5px solid #000000; background:#FFFF00; color:#000000; font-variant: small-caps; font-size:130%; font-weight: bold; text-align: center; padding: 3px;\">\n<div style=\"font-size: 150%; background:#000000; color:#FFFF00; margin:-3px -3px -10px; padding:5px;\">CAUTION<\/div>\n<p><\/p>\n<p style=\"margin:0;\">NWMLS monthly reports include an <a href=\"http:\/\/seattlebubble.com\/blog\/2010\/08\/11\/one-more-look-at-bogus-reports-from-the-nwmls\/\" title=\"One More Look at Bogus Reports from the NWMLS\" style=\"color:#000000; text-decoration:underline;\">undisclosed and varying number<\/a> of<br \/>sales from previous months in their pending and closed sales statistics.<\/p>\n<\/div>\n<p>Here&#8217;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<style>.CNNTable {margin: 5px auto 15px;} .CNNTable td {padding: 0px 5px; text-align: center; font-size: .9em;} .top_row {font-weight: bold;} .CNNTable img {border:0;margin:0;}<\/style>\n<table class=\"CNNTable\" border=\"1\" cellpadding=\"0\" cellspacing=\"0\">\n<tr class=\"top_row\">\n<th style=\"font-size: 105%; border-top: 0; border-left: 0;\">February 2012<\/th>\n<th>Number<\/th>\n<th>MOM<\/th>\n<th>YOY<\/th>\n<th>Buyers<\/th>\n<th>Sellers<\/th>\n<\/tr>\n<tr>\n<td style=\"text-align: left;\">Active Listings<\/td>\n<td>5,178<\/td>\n<td>-3.7%<\/td>\n<td>-31.7%<\/td>\n<td><img decoding=\"async\" src=\"\/images-global\/down-red.gif\" \/><\/td>\n<td><img decoding=\"async\" src=\"\/images-global\/up-green.gif\" \/><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;\">Closed Sales<\/td>\n<td>1,230<\/td>\n<td>+12.3%<\/td>\n<td>+22.6%<\/td>\n<td><img decoding=\"async\" src=\"\/images-global\/down-red.gif\" \/><\/td>\n<td><img decoding=\"async\" src=\"\/images-global\/up-green.gif\" \/><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;\">SAAS (<a href=\"http:\/\/seattlebubble.com\/blog\/2009\/04\/27\/seasonally-adjusted-active-supply-a-new-measure-of-market-virility\/\" title=\"Seasonally Adjusted Active Supply: A New Measure of Market Virility\">?<\/a>)<\/td>\n<td>1.46<\/td>\n<td>+18.8%<\/td>\n<td>-23.8%<\/td>\n<td><img decoding=\"async\" src=\"\/images-global\/down-red.gif\" \/><\/td>\n<td><img decoding=\"async\" src=\"\/images-global\/up-green.gif\" \/><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;\">Pending Sales<\/td>\n<td>2,429<\/td>\n<td>+29.8%<\/td>\n<td>+23.8%<\/td>\n<td><img decoding=\"async\" src=\"\/images-global\/down-red.gif\" \/><\/td>\n<td><img decoding=\"async\" src=\"\/images-global\/up-green.gif\" \/><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;\">Months of Supply<\/td>\n<td>2.13<\/td>\n<td>-25.8%<\/td>\n<td>-44.8%<\/td>\n<td><img decoding=\"async\" src=\"\/images-global\/down-red.gif\" \/><\/td>\n<td><img decoding=\"async\" src=\"\/images-global\/up-green.gif\" \/><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;\">Median Price<a href=\"http:\/\/seattlebubble.com\/blog\/2010\/03\/10\/declines-in-kings-median-price-softened-by-sales-shifts\/\" title=\"Declines in King's Median Price Softened by Sales Shifts\">*<\/a><\/td>\n<td>$308,125<\/td>\n<td>-2.2%<\/td>\n<td>-7.7%<\/td>\n<td><img decoding=\"async\" src=\"\/images-global\/up-green.gif\" \/><\/td>\n<td><img decoding=\"async\" src=\"\/images-global\/down-red.gif\" \/><\/td>\n<\/tr>\n<\/table>\n<p>Feel free to download the updated <a title=\"Seattle Bubble Spreadsheet\" href=\"[download(Seattle_Bubble.xlsx)]\">Seattle Bubble Spreadsheet<\/a> (<a title=\"Seattle Bubble Spreadsheet (Excel 2003)\" href=\"[download(Seattle_Bubble.xls)]\">Excel 2003 format<\/a>), but keep in mind the caution above.<\/p>\n<p>Here&#8217;s your closed sales yearly comparison chart:<\/p>\n<p style=\"margin: 5px auto; width: 600px; font-size: 0.8em; text-align: center;\"><a title=\"King County SFH Closed Sales\" href=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2012\/03\/KingCoSFHClosed2012-02.png\" rel=\"lightbox[19233]\"><img loading=\"lazy\" decoding=\"async\" style=\"border: 0;\" title=\"King County SFH Closed Sales - Click to enlarge\" src=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2012\/03\/KingCoSFHClosed2012-02-600x409.png\" alt=\"King County SFH Closed Sales\" width=\"600\" height=\"409\" \/><\/a><\/p>\n<p>Still pretty low compared to most years, although that is quite a healthy bump up from last year, when sales dropped between January and February.  The 23% year-over-year jump is pretty close to <a href=\"http:\/\/seattlebubble.com\/blog\/2012\/03\/01\/february-stats-preview-surprise-sales-spike-edition\/\" title=\"February Stats Preview: Surprise Sales Spike Edition?\">the 25% jump we saw in the public records<\/a>.<\/p>\n<p>Here&#8217;s the graph of inventory with each year overlaid on the same chart.<\/p>\n<p style=\"margin: 5px auto; width: 600px; font-size: 0.8em; text-align: center;\"><a title=\"King County SFH Inventory\" href=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2012\/03\/KingCoSFHInventory2012-02.png\" rel=\"lightbox[19233]\"><img loading=\"lazy\" decoding=\"async\" style=\"border: 0;\" title=\"King County SFH Inventory - Click to enlarge\" src=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2012\/03\/KingCoSFHInventory2012-02-600x409.png\" alt=\"King County SFH Inventory\" width=\"600\" height=\"409\" \/><\/a><\/p>\n<p>Continuing <a href=\"http:\/\/seattlebubble.com\/blog\/2012\/02\/06\/nwmls-redefining-astounding-as-prices-keep-falling\/\" title=\"NWMLS: Redefining \u201cAstounding\u201d as Prices Keep Falling\">the trend we began last month<\/a>, we&#8217;re still in uncharted territory with on-market inventory <em>decreasing<\/em> into the second month of the year.  Between 2000 and 2011, the average change between January and February is a 3.6% increase.<\/p>\n<p>Here&#8217;s the supply\/demand YOY graph.  In place of the now-unreliable measure of pending sales, the &#8220;demand&#8221; in this chart is represented by closed sales, which have had a consistent definition throughout the decade.<\/p>\n<p style=\"margin: 5px auto; width: 600px; font-size: 0.8em; text-align: center;\"><a title=\"King County Supply vs Demand % Change YOY\" href=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2012\/03\/KingCoSupplyVsDemandPct2012-02.png\" rel=\"lightbox[19233]\"><img loading=\"lazy\" decoding=\"async\" style=\"border: 0;\" title=\"King County Supply vs Demand % Change YOY - Click to enlarge\" src=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2012\/03\/KingCoSupplyVsDemandPct2012-02-600x409.png\" alt=\"King County Supply vs Demand % Change YOY\" width=\"600\" height=\"409\" \/><\/a><\/p>\n<p><em>Still<\/em> looking at gains in sales coupled with declining inventory.<\/p>\n<p>Here&#8217;s the median home price YOY change graph:<\/p>\n<p style=\"margin: 5px auto; width: 600px; font-size: 0.8em; text-align: center;\"><a title=\"King County SFH YOY Price Change\" href=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2012\/03\/KingCoSFHPrices2012-02.png\" rel=\"lightbox[19233]\"><img loading=\"lazy\" decoding=\"async\" style=\"border: 0;\" title=\"King County SFH YOY Price Change - Click to enlarge\" src=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2012\/03\/KingCoSFHPrices2012-02-600x409.png\" alt=\"King County SFH YOY Price Change\" width=\"600\" height=\"409\" \/><\/a><\/p>\n<p>I think it&#8217;s interesting to note that this has been on a fairly steady upward trend since October.  The last time that happened was when the tax credit juiced sales and threw the whole market out of whack for a year and a half.  This time around, I&#8217;m inclined to think that the slowdown in the bleeding of prices is more &#8220;natural.&#8221;<\/p>\n<p>And lastly, here is the chart comparing King County SFH prices each month for every year back to 1994.<\/p>\n<p style=\"margin: 5px auto; width: 600px; font-size: 0.8em; text-align: center;\"><a title=\"King County SFH Prices\" href=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2012\/03\/KingCoSFHPricesYearly2012-02.png\" rel=\"lightbox[19233]\"><img loading=\"lazy\" decoding=\"async\" style=\"border: 0;\" title=\"King County SFH Prices - Click to enlarge\" src=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2012\/03\/KingCoSFHPricesYearly2012-02-600x436.png\" alt=\"King County SFH Prices\" width=\"600\" height=\"436\" \/><\/a><\/p>\n<p>February 2012: $308,125<br \/>\nDecember 2003: $304,700<\/p>\n<p>I&#8217;ll update this post with the headlines from the Seattle Times and Seattle P-I when they post their stories.<\/p>\n<p>[Update: Here they are.]<br \/>\nSeattle Times: <a href=\"http:\/\/seattletimes.nwsource.com\/html\/businesstechnology\/2017671306_homesales06.html\" title=\"Median home price in King County down to February 2004 level\">Median home price in King County down to February 2004 level<\/a><br \/>\nSeattle P-I: <a href=\"http:\/\/www.seattlepi.com\/realestate\/article\/House-prices-rose-in-Seattle-in-February-3383314.php\" title=\"House prices rose in Seattle in February\">House prices rose in Seattle in February<\/a><\/p>\n<p>Check back tomorrow for the full reporting roundup.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>February market stats have been compiled by the NWMLS. Their press release isn&#8217;t up yet, but you can read it here once they do publish it. Since we don&#8217;t have any amusing prose to poke at, we&#8217;ll just dive right into the stats and save the response to their salesmanship for tomorrow&#8217;s Reporting Roundup. CAUTION&#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":[6,521,200],"coauthors":[],"class_list":["post-19233","post","type-post","status-publish","format-standard","hentry","category-stats","category-counties","tag-nwmls","tag-saas","tag-statistics"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>NWMLS: Inventory Shrinks, Sales Climb, Bleeding Slows \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\/2012\/03\/05\/nwmls-inventory-shrinks-sales-climb-bleeding-slows\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"NWMLS: Inventory Shrinks, Sales Climb, Bleeding Slows \u2022 Seattle Bubble\" \/>\n<meta name=\"twitter:description\" content=\"February market stats have been compiled by the NWMLS. Their press release isn&#8217;t up yet, but you can read it here once they do publish it. Since we don&#8217;t have any amusing prose to poke at, we&#8217;ll just dive right into the stats and save the response to their salesmanship for tomorrow&#8217;s Reporting Roundup. CAUTION...\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/seattlebubble.com\/images-global\/down-red.gif\" \/>\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=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/seattlebubble.com\/blog\/2012\/03\/05\/nwmls-inventory-shrinks-sales-climb-bleeding-slows\/\",\"url\":\"https:\/\/seattlebubble.com\/blog\/2012\/03\/05\/nwmls-inventory-shrinks-sales-climb-bleeding-slows\/\",\"name\":\"NWMLS: Inventory Shrinks, Sales Climb, Bleeding Slows \u2022 Seattle Bubble\",\"isPartOf\":{\"@id\":\"https:\/\/seattlebubble.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/seattlebubble.com\/blog\/2012\/03\/05\/nwmls-inventory-shrinks-sales-climb-bleeding-slows\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/seattlebubble.com\/blog\/2012\/03\/05\/nwmls-inventory-shrinks-sales-climb-bleeding-slows\/#primaryimage\"},\"thumbnailUrl\":\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2012\/03\/KingCoSFHClosed2012-02-600x409.png\",\"datePublished\":\"2012-03-05T19:44:11+00:00\",\"dateModified\":\"2012-03-05T23:12:56+00:00\",\"author\":{\"@id\":\"https:\/\/seattlebubble.com\/blog\/#\/schema\/person\/7de7c0dd14bee1a2c67f7ce86bc4505f\"},\"breadcrumb\":{\"@id\":\"https:\/\/seattlebubble.com\/blog\/2012\/03\/05\/nwmls-inventory-shrinks-sales-climb-bleeding-slows\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/seattlebubble.com\/blog\/2012\/03\/05\/nwmls-inventory-shrinks-sales-climb-bleeding-slows\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/seattlebubble.com\/blog\/2012\/03\/05\/nwmls-inventory-shrinks-sales-climb-bleeding-slows\/#primaryimage\",\"url\":\"https:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2012\/03\/KingCoSFHClosed2012-02.png\",\"contentUrl\":\"https:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2012\/03\/KingCoSFHClosed2012-02.png\",\"width\":\"906\",\"height\":\"618\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/seattlebubble.com\/blog\/2012\/03\/05\/nwmls-inventory-shrinks-sales-climb-bleeding-slows\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/seattlebubble.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"NWMLS: Inventory Shrinks, Sales Climb, Bleeding Slows\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/seattlebubble.com\/blog\/#website\",\"url\":\"https:\/\/seattlebubble.com\/blog\/\",\"name\":\"Seattle Bubble\",\"description\":\"local\u00a0real\u00a0estate\u00a0news, statistics,\u00a0and\u00a0commentary without\u00a0the\u00a0sales\u00a0spin.\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/seattlebubble.com\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/seattlebubble.com\/blog\/#\/schema\/person\/7de7c0dd14bee1a2c67f7ce86bc4505f\",\"name\":\"The Tim\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/seattlebubble.com\/blog\/#\/schema\/person\/image\/37756956c11dcc50d2559761ffa5ee70\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/19e5770990a1681615608091b2de571b10c3e03bbac7d07bb2ae15297ee72fbc?s=96&d=retro&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/19e5770990a1681615608091b2de571b10c3e03bbac7d07bb2ae15297ee72fbc?s=96&d=retro&r=g\",\"caption\":\"The Tim\"},\"description\":\"Tim Ellis is the founder of Seattle Bubble. 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