{"id":21077,"date":"2012-08-06T12:53:32","date_gmt":"2012-08-06T19:53:32","guid":{"rendered":"http:\/\/seattlebubble.com\/blog\/?p=21077"},"modified":"2012-08-06T12:53:32","modified_gmt":"2012-08-06T19:53:32","slug":"nwmls-median-slips-as-sales-increase-listings-drop","status":"publish","type":"post","link":"https:\/\/seattlebubble.com\/blog\/2012\/08\/06\/nwmls-median-slips-as-sales-increase-listings-drop\/","title":{"rendered":"NWMLS: Median Slips as Sales Increase, Listings Drop"},"content":{"rendered":"<p>July market stats were released by the NWMLS today.  First up, here&#8217;s a snippet from their press release:<\/p>\n<p><a href=\"http:\/\/www.nwrealestate.com\/nwrpub\/common\/news.cfm\" title=\"Multiple offers for homes stimulated by constricted supply, favorable financing\">Multiple offers for homes stimulated by constricted supply, favorable financing<\/a>.<\/p>\n<blockquote><p>Brokers around western Washington reported brisk activity during July with home buyers scrambling to take advantage of attractive financing while encountering shrinking inventory and, in some areas, rising prices.<\/p>\n<p>One broker remarked now is the &#8220;best buying opportunity,&#8221; she has witnessed in nearly 20 years.<\/p><\/blockquote>\n<p>That last line could be in every single NWMLS press release, every single month.<\/p>\n<p>I&#8217;ll save the rest of the press release for tomorrow&#8217;s reporting roundup.  For now, here&#8217;s the percent of sales that were bank owned.  Another drop, though not nearly as dramatic as we had been seeing, and despite that dip in REO sales, the median price <em>declined<\/em> a bit this month.<\/p>\n<p style=\"margin: 5px auto; width: 600px; font-size: 0.8em; text-align: center;\"><a title=\"Bank-Owned: Share of Total Sales - King County Single-Family\" href=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2012\/08\/KingCoSFHREOPct2012-07.png\" rel=\"lightbox[21077]\"><img loading=\"lazy\" decoding=\"async\" style=\"border: 0;\" title=\"Bank-Owned: Share of Total Sales - King County Single-Family - Click to enlarge\" src=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2012\/08\/KingCoSFHREOPct2012-07-600x435.png\" alt=\"Bank-Owned: Share of Total Sales - King County Single-Family\" width=\"600\" height=\"435\" \/><\/a><\/p>\n<p>All righty, on with our usual monthly stats.<\/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;\">July 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>5,070<\/td>\n<td>-0.4%<\/td>\n<td>-38.1%<\/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>2,120<\/td>\n<td>+0.1%<\/td>\n<td>+26.3%<\/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>1.26<\/td>\n<td>-4.7%<\/td>\n<td>-29.3%<\/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>2,561<\/td>\n<td>-7.7%<\/td>\n<td>+11.5%<\/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>1.98<\/td>\n<td>+7.9%<\/td>\n<td>-44.4%<\/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>$375,250<\/td>\n<td>-1.3%<\/td>\n<td>+7.2%<\/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<\/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\/08\/KingCoSFHClosed2012-07.png\" rel=\"lightbox[21077]\"><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\/08\/KingCoSFHClosed2012-07-600x409.png\" alt=\"King County SFH Closed Sales\" width=\"600\" height=\"409\" \/><\/a><\/p>\n<p>Breaking from the trend of recent years, sales actually <em>increased<\/em> just a bit between June and July.<\/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\/08\/KingCoSFHInventory2012-07.png\" rel=\"lightbox[21077]\"><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\/08\/KingCoSFHInventory2012-07-600x409.png\" alt=\"King County SFH Inventory\" width=\"600\" height=\"409\" \/><\/a><\/p>\n<p>It&#8217;s hard to tell when this year is so far below every other year on the scale, but inventory flipped back down again in July.  So much for hopes that selection might increase a bit in the second half of the year.<\/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\/08\/KingCoSupplyVsDemandPct2012-07.png\" rel=\"lightbox[21077]\"><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\/08\/KingCoSupplyVsDemandPct2012-07-600x409.png\" alt=\"King County Supply vs Demand % Change YOY\" width=\"600\" height=\"409\" \/><\/a><\/p>\n<p>Nothing new here, just the same old story of low supply and increasing demand.<\/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\/08\/KingCoSFHPrices2012-07.png\" rel=\"lightbox[21077]\"><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\/08\/KingCoSFHPrices2012-07-600x409.png\" alt=\"King County SFH YOY Price Change\" width=\"600\" height=\"409\" \/><\/a><\/p>\n<p>The yearly gain in median price dipped back below double-digits with the drop from June to July.<\/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\/08\/KingCoSFHPricesYearly2012-07.png\" rel=\"lightbox[21077]\"><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\/08\/KingCoSFHPricesYearly2012-07-600x436.png\" alt=\"King County SFH Prices\" width=\"600\" height=\"436\" \/><\/a><\/p>\n<p>July 2012: $375,250<br \/>\nJuly 2005: $375,000<\/p>\n<p>Here are the Times and P-I headlines.<br \/>\nSeattle Times: <em>[none yet]<\/em><br \/>\nSeattle P-I: <a href=\"http:\/\/www.seattlepi.com\/realestate\/article\/King-County-house-prices-up-from-2011-down-from-3766335.php\" title=\"King County house prices up from 2011, down from June\">King County house prices up from 2011, down from June<\/a><\/p>\n<p>Check back tomorrow for the full reporting roundup.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>July market stats were released by the NWMLS today. First up, here&#8217;s a snippet from their press release: Multiple offers for homes stimulated by constricted supply, favorable financing. Brokers around western Washington reported brisk activity during July with home buyers scrambling to take advantage of attractive financing while encountering shrinking inventory and, in some areas,&#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-21077","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: Median Slips as Sales Increase, Listings Drop \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\/08\/06\/nwmls-median-slips-as-sales-increase-listings-drop\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"NWMLS: Median Slips as Sales Increase, Listings Drop \u2022 Seattle Bubble\" \/>\n<meta name=\"twitter:description\" content=\"July market stats were released by the NWMLS today. 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First up, here&#8217;s a snippet from their press release: Multiple offers for homes stimulated by constricted supply, favorable financing. 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