{"id":29227,"date":"2014-08-06T13:33:00","date_gmt":"2014-08-06T20:33:00","guid":{"rendered":"http:\/\/seattlebubble.com\/blog\/?p=29227"},"modified":"2014-08-06T20:23:59","modified_gmt":"2014-08-07T03:23:59","slug":"nwmls-inventory-inches-up-as-home-prices-near-peak","status":"publish","type":"post","link":"https:\/\/seattlebubble.com\/blog\/2014\/08\/06\/nwmls-inventory-inches-up-as-home-prices-near-peak\/","title":{"rendered":"NWMLS: Inventory Inches Up as Home Prices Near Peak"},"content":{"rendered":"

July market stats were published by the NWMLS today. Here’s a snippet from their press release: Western Washington housing market in “recovery mode” but some brokers say it’s still not at full potential<\/a>.<\/p>\n

More sellers listed their homes for sale during July compared to a year ago, but brokers with Northwest Multiple Listing Service say inventory remains “well below” what is considered to be a balanced market. Last month’s pending sales rose slightly from a year ago while prices system-wide increased nearly 6.3 percent.<\/p>\n

“Some agents and firms are beginning to feel the summer doldrums, while others are experiencing a definite increase in activity,” observed Diedre Haines, regional managing broker-Snohomish County for Coldwell Banker Bain. Haines, a director with Northwest MLS, described price increases as “healthy, not exorbitant,” adding, “Thankfully we are not seeing signs of a bubble and instead are seeing realistic appreciation.” Nevertheless, she suggested sellers who overprice their properties can face disappointing consequences.<\/p><\/blockquote>\n

How do you know when the real estate market might be facing a bubble? Wait for agents to say “there are no signs of a bubble.” I’d say that over two years of home price appreciation in excess of five percent is definitely cause for some concern on that front. I’ll be exploring this in more detail later this month as we dive into the fundamentals once again.<\/p>\n

For now, it’s on with our usual monthly stats.<\/p>\n

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CAUTION<\/div>\n

<\/p>\n

NWMLS monthly reports include an undisclosed and varying number<\/a> of
sales from previous months in their pending and closed sales statistics.<\/p>\n<\/div>\n

Here’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