{"id":28903,"date":"2014-06-04T13:30:17","date_gmt":"2014-06-04T20:30:17","guid":{"rendered":"http:\/\/seattlebubble.com\/blog\/?p=28903"},"modified":"2014-06-04T13:57:14","modified_gmt":"2014-06-04T20:57:14","slug":"nwmls","status":"publish","type":"post","link":"https:\/\/seattlebubble.com\/blog\/2014\/06\/04\/nwmls\/","title":{"rendered":"NWMLS: Sale Down, Listings Up, Price Gains Slowed in May"},"content":{"rendered":"<p>May market stats were published by the NWMLS this afternoon.  Here&#8217;s a snippet from their press release: <a href=\"http:\/\/www.northwestmls.com\/index.cfm?\/News--Information\" title=\"Housing Market Righting Itself as Buyers, Brokers Get Creative to Compete\">Housing Market Righting Itself as Buyers, Brokers Get Creative to Compete<\/a>.<\/p>\n<blockquote><p>Housing around Western Washington is on an upward trajectory, but inadequate inventory &#8220;in the right prices and locations&#8221; makes for a &#8220;very difficult market for purchasers and brokers,&#8221; according to an executive with one multi-office real estate company.<br \/>\n&#8230;<br \/>\nMike Gain, a former chairman of the Northwest MLS board of directors, also commented on the bidding wars. &#8220;We are experiencing more multiple offers than I have experienced in my 35 years of practicing real estate in this marketplace,&#8221; stated Gain, the president and CEO of Berkshire Hathaway HomeServices Northwest Real Estate. &#8220;This is a very difficult market for purchasers, our agents and brokers. If we had inventory to handle the demand our pending and sold numbers would be greatly increased,&#8221; he believes, adding, &#8220;We desperately need good quality inventory.&#8221;<\/p><\/blockquote>\n<p>I doubt that sales would increase that much with more inventory. Instead it&#8217;s much more likely that prices would just stop going up so much.<\/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;\">May 2014<\/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>4,158<\/td>\n<td>+17.4%<\/td>\n<td>+10.6%<\/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;\">Closed Sales<\/td>\n<td>2,326<\/td>\n<td>+15.4%<\/td>\n<td>-7.6%<\/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;\">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>1.53<\/td>\n<td>+4.9%<\/td>\n<td>+16.4%<\/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>3,349<\/td>\n<td>+12.3%<\/td>\n<td>+3.5%<\/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>1.79<\/td>\n<td>+1.8%<\/td>\n<td>+19.7%<\/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<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>$442,250<\/td>\n<td>+2.7%<\/td>\n<td>+5.9%<\/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>Inventory did indeed hit double-digit gains in May, while sales continued to fall. Prices were up again, but once again the month-over-month increase was smaller than the same period a year ago.<\/p>\n<p>Median Price April to May 2013: +4.4%<br \/>\nMedian Price April to May 2014: +2.7%<\/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\/2014\/06\/KingCoSFHClosed2014-05.png\" rel=\"lightbox[28903]\"><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\/2014\/06\/KingCoSFHClosed2014-05-600x408.png\" alt=\"King County SFH Closed Sales\" width=\"600\" height=\"408\" \/><\/a><\/p>\n<p>Not a really high month for sales, and not a really low month either.<\/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\/2014\/06\/KingCoSFHInventory2014-05.png\" rel=\"lightbox[28903]\"><img loading=\"lazy\" decoding=\"async\" style=\"border: 0;\" title=\"King County SFH Inventory - Click to enlarge\" src=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2014\/06\/KingCoSFHInventory2014-05-600x408.png\" alt=\"King County SFH Inventory\" width=\"600\" height=\"408\" \/><\/a><\/p>\n<p>Another month or two of increases and we should pass 2012 inventory levels, as well. That still isn&#8217;t anything to write home about, of course.<\/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\/2014\/06\/KingCoSupplyVsDemandPct2014-05.png\" rel=\"lightbox[28903]\"><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\/2014\/06\/KingCoSupplyVsDemandPct2014-05-600x408.png\" alt=\"King County Supply vs Demand % Change YOY\" width=\"600\" height=\"408\" \/><\/a><\/p>\n<p>Still inching ever slowly toward a buyer&#8217;s market, with the supply trend in the black, and the demand trend in the red.<\/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\/2014\/06\/KingCoSFHPrices2014-05.png\" rel=\"lightbox[28903]\"><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\/2014\/06\/KingCoSFHPrices2014-05-600x408.png\" alt=\"King County SFH YOY Price Change\" width=\"600\" height=\"408\" \/><\/a><\/p>\n<p>Down again to 5.9 percent, tied with March for the lowest month since May 2012.<\/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\/2014\/06\/KingCoSFHPricesYearly2014-05.png\" rel=\"lightbox[28903]\"><img loading=\"lazy\" decoding=\"async\" style=\"border: 0;\" title=\"King County SFH Prices - Click to enlarge\" src=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2014\/06\/KingCoSFHPricesYearly2014-05-600x436.png\" alt=\"King County SFH Prices\" width=\"600\" height=\"436\" \/><\/a><\/p>\n<p>May 2014: $442,250<br \/>\nOctober 2006: $440,000<\/p>\n<p>Looks like no story has been posted yet on the Seattle Times. Here&#8217;s the link to the Seattle P-I piece: <a href=\"http:\/\/www.seattlepi.com\/realestate\/article\/Seattle-area-had-more-houses-for-sale-in-May-5528924.php\" title=\"Seattle area had more houses for sale in May\">Seattle area had more houses for sale in May<\/a><\/p>\n<p>Check back tomorrow for the full reporting roundup.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>May market stats were published by the NWMLS this afternoon. Here&#8217;s a snippet from their press release: Housing Market Righting Itself as Buyers, Brokers Get Creative to Compete. Housing around Western Washington is on an upward trajectory, but inadequate inventory &#8220;in the right prices and locations&#8221; makes for a &#8220;very difficult market for purchasers and&#8230;<\/p>\n","protected":false},"author":2,"featured_media":28909,"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: Sale Down, Listings Up, Price Gains Slowed in May http:\/\/wp.me\/pe2Bv-7wb","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-28903","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: Sale Down, Listings Up, Price Gains Slowed in May \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\/2014\/06\/04\/nwmls\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"NWMLS: Sale Down, Listings Up, Price Gains Slowed in May \u2022 Seattle Bubble\" \/>\n<meta name=\"twitter:description\" content=\"May market stats were published by the NWMLS this afternoon. Here&#8217;s a snippet from their press release: Housing Market Righting Itself as Buyers, Brokers Get Creative to Compete. 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