{"id":24721,"date":"2012-11-14T10:39:58","date_gmt":"2012-11-14T18:39:58","guid":{"rendered":"http:\/\/seattlebubble.com\/blog\/?p=24721"},"modified":"2012-11-14T10:39:58","modified_gmt":"2012-11-14T18:39:58","slug":"market-heated-up-in-october-as-inventory-collapsed","status":"publish","type":"post","link":"https:\/\/seattlebubble.com\/blog\/2012\/11\/14\/market-heated-up-in-october-as-inventory-collapsed\/","title":{"rendered":"Market Heated Up in October as Inventory Collapsed"},"content":{"rendered":"<p><span style=\"font-size:85%; font-style:italic;\">Full disclosure: The Tim is <a href=\"http:\/\/seattlebubble.com\/blog\/2010\/07\/14\/some-noteworthy-personal-news\/\" title=\"Some Noteworthy Personal News...\">employed by Redfin<\/a>.<\/span><\/p>\n<p><a href=\"http:\/\/blog.redfin.com\/blog\/2012\/11\/redfin_real-time_home_price_tracker_home_sales_surge_22_in_october_as_prices_continue_to_rise.html\" title=\"Redfin Real-Time Home Price Tracker: Home Sales Surge 22% in October as Prices Continue to Rise\">Redfin released October housing market data today<\/a>, so let&#8217;s take a look at the rate at which new listings are going under contract in two weeks or less in the Seattle area, compared to San Francisco and the national rate:<\/p>\n<p style=\"margin: 5px auto; width: 600px; font-size: 0.8em; text-align: center;\"><a href=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2012\/11\/Redfin-Under-Contract-14days-Seattle_2012-10.png\" title=\"Percentage of SFH Under Contract in 14 Days or Less\" rel=\"lightbox[24721]\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2012\/11\/Redfin-Under-Contract-14days-Seattle_2012-10-600x331.png\" style=\"border: 0;\" title=\"Percentage of SFH Under Contract in 14 Days or Less - Click to enlarge\" alt=\"Percentage of SFH Under Contract in 14 Days or Less\" width=\"600\" height=\"331\" \/><\/a><\/p>\n<p>Yikes!  That&#8217;s a big spike in Seattle and another gain in San Francisco, bringing them each to a new high point.  Although fall and winter are typically the slow season for home sales, it seems that this year the serious lack of inventory is leading to even more intense competition among buyers for the shrinking pool of desirable homes.<\/p>\n<p>Here&#8217;s a plot of this metric next to total inventory for the Seattle area:<\/p>\n<p style=\"margin: 5px auto; width: 600px; font-size: 0.8em; text-align: center;\"><a href=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2012\/11\/Redfin-Under-Contract-14days-Inventory-Seattle_2012-10.png\" title=\"Percentage of SFH Under Contract in 14 Days or Less\" rel=\"lightbox[24721]\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2012\/11\/Redfin-Under-Contract-14days-Inventory-Seattle_2012-10-600x331.png\" style=\"border: 0;\" title=\"Percentage of SFH Under Contract in 14 Days or Less - Click to enlarge\" alt=\"Percentage of SFH Under Contract in 14 Days or Less\" width=\"600\" height=\"331\" \/><\/a><\/p>\n<p>If inventory doesn&#8217;t pick up early next year I could easily see the percentage of new listings that go pendong in two weeks or less moving up over 50% in Seattle, which would definitely not be a fun market for buyers.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Full disclosure: The Tim is employed by Redfin. Redfin released October housing market data today, so let&#8217;s take a look at the rate at which new listings are going under contract in two weeks or less in the Seattle area, compared to San Francisco and the national rate: Yikes! That&#8217;s a big spike in Seattle&#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":[206,8],"tags":[882,386,82],"coauthors":[],"class_list":["post-24721","post","type-post","status-publish","format-standard","hentry","category-features","category-stats","tag-fast-offers","tag-pending","tag-redfin"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Market Heated Up in October as Inventory Collapsed \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\/11\/14\/market-heated-up-in-october-as-inventory-collapsed\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Market Heated Up in October as Inventory Collapsed \u2022 Seattle Bubble\" \/>\n<meta name=\"twitter:description\" content=\"Full disclosure: The Tim is employed by Redfin. Redfin released October housing market data today, so let&#8217;s take a look at the rate at which new listings are going under contract in two weeks or less in the Seattle area, compared to San Francisco and the national rate: Yikes! That&#8217;s a big spike in Seattle...\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2012\/11\/Redfin-Under-Contract-14days-Seattle_2012-10.png\" \/>\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\/2012\/11\/14\/market-heated-up-in-october-as-inventory-collapsed\/\",\"url\":\"https:\/\/seattlebubble.com\/blog\/2012\/11\/14\/market-heated-up-in-october-as-inventory-collapsed\/\",\"name\":\"Market Heated Up in October as Inventory Collapsed \u2022 Seattle Bubble\",\"isPartOf\":{\"@id\":\"https:\/\/seattlebubble.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/seattlebubble.com\/blog\/2012\/11\/14\/market-heated-up-in-october-as-inventory-collapsed\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/seattlebubble.com\/blog\/2012\/11\/14\/market-heated-up-in-october-as-inventory-collapsed\/#primaryimage\"},\"thumbnailUrl\":\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2012\/11\/Redfin-Under-Contract-14days-Seattle_2012-10-600x331.png\",\"datePublished\":\"2012-11-14T18:39:58+00:00\",\"author\":{\"@id\":\"https:\/\/seattlebubble.com\/blog\/#\/schema\/person\/7de7c0dd14bee1a2c67f7ce86bc4505f\"},\"breadcrumb\":{\"@id\":\"https:\/\/seattlebubble.com\/blog\/2012\/11\/14\/market-heated-up-in-october-as-inventory-collapsed\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/seattlebubble.com\/blog\/2012\/11\/14\/market-heated-up-in-october-as-inventory-collapsed\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/seattlebubble.com\/blog\/2012\/11\/14\/market-heated-up-in-october-as-inventory-collapsed\/#primaryimage\",\"url\":\"https:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2012\/11\/Redfin-Under-Contract-14days-Seattle_2012-10.png\",\"contentUrl\":\"https:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2012\/11\/Redfin-Under-Contract-14days-Seattle_2012-10.png\",\"width\":\"1198\",\"height\":\"661\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/seattlebubble.com\/blog\/2012\/11\/14\/market-heated-up-in-october-as-inventory-collapsed\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/seattlebubble.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Market Heated Up in October as Inventory Collapsed\"}]},{\"@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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