{"id":2454,"date":"2008-08-15T12:00:29","date_gmt":"2008-08-15T19:00:29","guid":{"rendered":"http:\/\/seattlebubble.com\/blog\/?p=2454"},"modified":"2008-08-15T12:00:29","modified_gmt":"2008-08-15T19:00:29","slug":"wcrer-affordability-drops-again","status":"publish","type":"post","link":"https:\/\/seattlebubble.com\/blog\/2008\/08\/15\/wcrer-affordability-drops-again\/","title":{"rendered":"WCRER: Affordability Drops Again"},"content":{"rendered":"

The Washington Center for Real Estate Research posted their latest “Market Snapshot” data<\/a> (pdf) this week.<\/p>\n

Here’s an article on the data from the Times: Home sales still sliding in state, Puget Sound region<\/a><\/p>\n

WCRER director Glenn Crellin continues to blame the media and buyer fear for the floundering market:<\/p>\n

“Buyers see and hear stories about the collapse of the national housing market everywhere, and that makes them afraid to move forward with a purchase,” said Glenn Crellin, center director.<\/p><\/blockquote>\n

According to the WCRER, King County home prices rose from the first quarter to the second, but are still around 5% below their 3rd Quarter 2007 peak.<\/p>\n

\"WCRER<\/a>
\nClick to enlarge<\/a><\/p>\n

The WCRER’s affordability index dropped from 76.6 in Q1 to 74.3 in Q2. The low point for affordability was Q2 2007 at 66.1.<\/p>\n

When they post the more detailed data from their Q2 report, it can be found here<\/a>.<\/p>\n

There isn’t really a lot to say about this data, since it’s nothing new to anyone who has been regularly following the monthly data from the NWMLS. Prices had a slight spring bounce, but not enough to put them in the positive YOY. Affordability is still in the gutter.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Washington Center for Real Estate Research posted their latest “Market Snapshot” data (pdf) this week. Here’s an article on the data from the Times: Home sales still sliding in state, Puget Sound region WCRER director Glenn Crellin continues to blame the media and buyer fear for the floundering market: “Buyers see and hear stories…<\/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":[198,8],"tags":[28,127,31,1116],"coauthors":[],"class_list":["post-2454","post","type-post","status-publish","format-standard","hentry","category-news","category-stats","tag-affordability","tag-crellin","tag-seattle_times","tag-wcrer"],"yoast_head":"\nWCRER: Affordability Drops Again \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\/2008\/08\/15\/wcrer-affordability-drops-again\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"WCRER: Affordability Drops Again \u2022 Seattle Bubble\" \/>\n<meta name=\"twitter:description\" content=\"The Washington Center for Real Estate Research posted their latest “Market Snapshot” data (pdf) this week. 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