{"id":27711,"date":"2013-11-05T12:45:10","date_gmt":"2013-11-05T20:45:10","guid":{"rendered":"http:\/\/seattlebubble.com\/blog\/?p=27711"},"modified":"2013-11-05T13:11:02","modified_gmt":"2013-11-05T21:11:02","slug":"nwmls-listings-up-from-2012-pending-sales-down","status":"publish","type":"post","link":"https:\/\/seattlebubble.com\/blog\/2013\/11\/05\/nwmls-listings-up-from-2012-pending-sales-down\/","title":{"rendered":"NWMLS: Listings Up From 2012, Pending Sales Down"},"content":{"rendered":"<p>October market stats are now available from the NWMLS.  Here&#8217;s a snippet from their press release: <a href=\"http:\/\/www.nwrealestate.com\/nwrpub\/common\/news.cfm\" title=\"Home sales &quot;pause&quot; with government shutdown, but brokers mostly bullish on market recovery\">Home sales &quot;pause&quot; with government shutdown, but brokers mostly bullish on market recovery<\/a>.<\/p>\n<blockquote><p>Home sales &#8220;paused&#8221; during October but prices continued to rise, according to the latest statistics from Northwest Multiple Listing Service. Commenting on year-to-date totals for 2013 compared to 2012, one industry expert remarked, &#8220;I would say the real estate market is recovering nicely.&#8221;<br \/>\n&#8230;<br \/>\nMike Gain, president and CEO of Prudential Northwest Realty Associates, believes the market has taken a &#8220;slight pause,&#8221; but emphasized one month&#8217;s numbers don&#8217;t indicate a trend.<\/p>\n<p>&#8220;We are two years into what has been a very steady recovery. It&#8217;s okay \u2013 and actually healthy \u2013 to have a slight slowdown,&#8221; he remarked. The government shutdown &#8220;definitely hurt consumer confidence&#8221; and put many would-be buyers on the sidelines, according to Gain.<\/p><\/blockquote>\n<p>Yes, let&#8217;s blame the shutdown, despite the fact that the trends of increasing inventory and slowly cooling sales have been obvious all year.<\/p>\n<p>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;\">October 2013<\/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>4,575<\/td>\n<td>-7.9%<\/td>\n<td>+6.3%<\/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<tr>\n<td style=\"text-align: left;\">Closed Sales<\/td>\n<td>2,187<\/td>\n<td>-0.6%<\/td>\n<td>+10.4%<\/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;\">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>1.12<\/td>\n<td>-5.8%<\/td>\n<td>+3.3%<\/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<tr>\n<td style=\"text-align: left;\">Pending Sales<\/td>\n<td>2,579<\/td>\n<td>+2.8%<\/td>\n<td>-3.6%<\/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<tr>\n<td style=\"text-align: left;\">Months of Supply<\/td>\n<td>1.77<\/td>\n<td>-10.4%<\/td>\n<td>+10.3%<\/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<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>$426,000<\/td>\n<td>+1.4%<\/td>\n<td>+15.1%<\/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<\/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>Suddenly a lot of indicators are pointing in buyers&#8217; favor.  Inventory was up over 2012 and pending sales were down (despite increasing over September), leading to a decent increase in months of supply.<\/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\/2013\/11\/KingCoSFHClosed2013-10.png\" rel=\"lightbox[27711]\"><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\/2013\/11\/KingCoSFHClosed2013-10-600x408.png\" alt=\"King County SFH Closed Sales\" width=\"600\" height=\"408\" \/><\/a><\/p>\n<p>Closed sales occasionally increase between September and October, but they usually drop.  This year they fell slightly.<\/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\/2013\/11\/KingCoSFHInventory2013-10.png\" rel=\"lightbox[27711]\"><img loading=\"lazy\" decoding=\"async\" style=\"border: 0;\" title=\"King County SFH Inventory - Click to enlarge\" src=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2013\/11\/KingCoSFHInventory2013-10-600x408.png\" alt=\"King County SFH Inventory\" width=\"600\" height=\"408\" \/><\/a><\/p>\n<p>The year-over-year increase for inventory came in right about where we said it would <a href=\"http:\/\/seattlebubble.com\/blog\/2013\/11\/04\/october-stats-preview-inventory-up-year-over-year-edition\/\" title=\"October Stats Preview: Inventory Up Year-Over-Year Edition\">in our preview yesterday<\/a>.  If the situation continues to improve as it has throughout this year, next spring will be a much less frustrating time for home buyers.<\/p>\n<p>Here&#8217;s the supply\/demand YOY graph.  &#8220;Demand&#8221; in this chart is represented by closed sales, which have had a consistent definition throughout the decade (unlike pending sales from NWMLS).<\/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\/2013\/11\/KingCoSupplyVsDemandPct2013-10.png\" rel=\"lightbox[27711]\"><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\/2013\/11\/KingCoSupplyVsDemandPct2013-10-600x408.png\" alt=\"King County Supply vs Demand % Change YOY\" width=\"600\" height=\"408\" \/><\/a><\/p>\n<p>The supply trend moved into the black for the first time since December 2010, while the demand trend moved down to its lowest point since February.  Things are getting better for buyers but we&#8217;re still in &#8220;seller&#8217;s market&#8221; territory.<\/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\/2013\/11\/KingCoSFHPrices2013-10.png\" rel=\"lightbox[27711]\"><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\/2013\/11\/KingCoSFHPrices2013-10-600x408.png\" alt=\"King County SFH YOY Price Change\" width=\"600\" height=\"408\" \/><\/a><\/p>\n<p>The median sale price bumped up a bit in October.<\/p>\n<p>And lastly, here is the chart comparing King County SFH prices each month for every year back to 1994 (not adjusted for inflation).<\/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\/2013\/11\/KingCoSFHPricesYearly2013-10.png\" rel=\"lightbox[27711]\"><img loading=\"lazy\" decoding=\"async\" style=\"border: 0;\" title=\"King County SFH Prices - Click to enlarge\" src=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2013\/11\/KingCoSFHPricesYearly2013-10-600x436.png\" alt=\"King County SFH Prices\" width=\"600\" height=\"436\" \/><\/a><\/p>\n<p>October 2013: $426,000<br \/>\nMay 2006: $427,950<\/p>\n<p>I have not yet seen articles on the Times and P-I, but I will update this post when they are published.<\/p>\n<p>Update: here they are.<br \/>\nSeattle Times: <a href=\"http:\/\/seattletimes.com\/html\/businesstechnology\/2022195419_homesalesxml.html\" title=\"King County median home price up 15% over year ago\">King County median home price up 15% over year ago<\/a><br \/>\nSeattle P-I: <a href=\"http:\/\/www.seattlepi.com\/realestate\/article\/Was-home-sales-slowdown-just-a-pause-4957497.php\" title=\"Was home sales slowdown just a 'pause'?\">Was home sales slowdown just a &#8216;pause&#8217;?<\/a><\/p>\n<p>Check back tomorrow for the full reporting roundup.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>October market stats are now available from the NWMLS. Here&#8217;s a snippet from their press release: Home sales &quot;pause&quot; with government shutdown, but brokers mostly bullish on market recovery. Home sales &#8220;paused&#8221; during October but prices continued to rise, according to the latest statistics from Northwest Multiple Listing Service. Commenting on year-to-date totals for 2013&#8230;<\/p>\n","protected":false},"author":2,"featured_media":27717,"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":"On the blog: NWMLS: Listings Up From 2012, Pending Sales Down http:\/\/wp.me\/pe2Bv-7cX","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"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-27711","post","type-post","status-publish","format-standard","has-post-thumbnail","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: Listings Up From 2012, Pending Sales Down \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\/2013\/11\/05\/nwmls-listings-up-from-2012-pending-sales-down\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"NWMLS: Listings Up From 2012, Pending Sales Down \u2022 Seattle Bubble\" \/>\n<meta name=\"twitter:description\" content=\"October market stats are now available from the NWMLS. Here&#8217;s a snippet from their press release: Home sales &quot;pause&quot; with government shutdown, but brokers mostly bullish on market recovery. Home sales &#8220;paused&#8221; during October but prices continued to rise, according to the latest statistics from Northwest Multiple Listing Service. 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