{"id":398,"date":"2006-10-04T14:26:00","date_gmt":"2006-10-04T21:26:00","guid":{"rendered":"http:\/\/seattlebubble.com\/blog\/?p=398"},"modified":"2006-10-04T14:26:00","modified_gmt":"2006-10-04T21:26:00","slug":"demand-down-supply-up-prices-dip","status":"publish","type":"post","link":"https:\/\/seattlebubble.com\/blog\/2006\/10\/04\/demand-down-supply-up-prices-dip\/","title":{"rendered":"Demand Down, Supply Up, Prices Dip"},"content":{"rendered":"

It’s that time of the month again. Time for fun with numbers. September figures from the NWMLS<\/a> have been posted. King County Residential inventory jumped even more than I was expecting, up 28.79% from last year. Sales tanked nearly 20% from August, and are down 20.59% from last year. Median sales price for single-family homes in King County actually decreased<\/i> from August, down to $425,000 (up 11.48% from September 2005).<\/p>\n

It is worth noting that the while inventory commonly increases from August to September, last month’s 10% jump is the largest increase over that time period in at least the last seven years. Likewise, sales tend to decline in September, but last month’s nearly 20% drop from August is the largest September drop since 2001. Furthermore, the last time that the median sales price from August to September dropped by more than last month’s 2.30% was 1998.<\/p>\n

Also interesting is the fact that the “months of supply” number (inventory \/ pending sales) shot up almost a full month<\/b>—the largest jump since December 2000—from 2.54 to 3.49, a value not seen since Winter 03-04. If that rate of change stays steady (I doubt it will), we will reach six months of supply (generally seen as a “balanced market”) before the new year.<\/p>\n

As is traditional, I have uploaded an updated version of the Seattle Bubble spreadsheet<\/a> for your number-crunching pleasure. Don’t forget that you can always find the link to the spreadsheet on the sidebar.<\/p>\n

Here are the supply & demand graphs.<\/p>\n

\"King<\/a>
King Co. SFH: Supply & Demand – Click to enlarge<\/a><\/div>\n
\"King<\/a>
King Co. SFH: Supply & Demand % Change – Click to enlarge<\/a><\/div>\n

Check out those curves.<\/p>\n

\n
Seattle Bubble Tip Jar<\/a><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

It’s that time of the month again. Time for fun with numbers. September figures from the NWMLS have been posted. King County Residential inventory jumped even more than I was expecting, up 28.79% from last year. Sales tanked nearly 20% from August, and are down 20.59% from last year. Median sales price for single-family homes…<\/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":[],"tags":[6,1114],"coauthors":[],"class_list":["post-398","post","type-post","status-publish","format-standard","hentry","tag-nwmls","tag-stats"],"yoast_head":"\nDemand Down, Supply Up, Prices Dip \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\/2006\/10\/04\/demand-down-supply-up-prices-dip\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Demand Down, Supply Up, Prices Dip \u2022 Seattle Bubble\" \/>\n<meta name=\"twitter:description\" content=\"It’s that time of the month again. 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