{"id":6719,"date":"2009-08-05T12:36:43","date_gmt":"2009-08-05T19:36:43","guid":{"rendered":"http:\/\/seattlebubble.com\/blog\/?p=6719"},"modified":"2009-08-05T13:45:49","modified_gmt":"2009-08-05T20:45:49","slug":"nwmls-closed-sales-inch-higher-but-remain-far-below-pendings","status":"publish","type":"post","link":"https:\/\/seattlebubble.com\/blog\/2009\/08\/05\/nwmls-closed-sales-inch-higher-but-remain-far-below-pendings\/","title":{"rendered":"NWMLS: Closed Sales Inch Higher but Remain Far Below Pendings"},"content":{"rendered":"<p>Let&#8217;s take a look at July market statistics from the NWMLS.  The NWMLS press release has not been posted yet, but should be  <a title=\"&quot;Aware and prepared buyers&quot; help boost Western Washington home sales during June\" href=\"http:\/\/www.nwrealestate.com\/nwrpub\/common\/news.cfm\">available here<\/a> later today.<\/p>\n<p>Here&#8217;s your King County SFH summary, with helpful arrows to show whether the year-over-year direction of each indicator is positive or negative news for buyers and sellers:<\/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<td style=\"font-size: 105%; border-top: 0; border-left: 0;\">July 2009<\/td>\n<td>Number<\/td>\n<td>MOM<\/td>\n<td>YOY<\/td>\n<td>Buyers<\/td>\n<td>Sellers<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;\">Active Listings<\/td>\n<td>9,857<\/td>\n<td>+2.1%<\/td>\n<td>-19.8%<\/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;\">Closed Sales<\/td>\n<td>1,727<\/td>\n<td>+4.4%<\/td>\n<td>+10.6%<\/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>2.00<\/td>\n<td>-3.0%<\/td>\n<td>-21.0%<\/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;\">Pending Sales<\/td>\n<td>2,217<\/td>\n<td>-9.4%<\/td>\n<td>+19.5<\/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>4.45<\/td>\n<td>+12.7%<\/td>\n<td>-32.9%<\/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<tr>\n<td style=\"text-align: left;\">Median Price<a title=\"Median Price Not Telling the Whole Truth\" href=\"http:\/\/seattlebubble.com\/blog\/2009\/07\/08\/median-price-still-being-distorted-by-geographic-shifts-in-sales\/\">*<\/a><\/td>\n<td>$384,000<\/td>\n<td>-2.8%<\/td>\n<td>-13.7%<\/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<\/table>\n<p>Closed sales increased slightly over June, falling just shy of the 1,750 breakpoint in our <a href=\"http:\/\/seattlebubble.com\/blog\/2009\/05\/17\/poll-guess-the-maximum-1-month-total-closed-sfh-sales-in-king-co-for-2009\/\" title=\"Poll: Guess the maximum 1-month total closed SFH sales in King Co. for 2009\">May poll<\/a>.  My guess was that closed sales this year would top out between 1,750 and 2000.  That may have been a little too optimistic.<\/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\/2009\/08\/kingcosfhclosed2009-07.png\" rel=\"lightbox[6719]\"><img loading=\"lazy\" decoding=\"async\" style=\"border: 0; margin: 5px\" title=\"King County SFH Closed Sales - Click to enlarge\" src=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2009\/08\/kingcosfhclosed2009-07-600x408.png\" alt=\"King County SFH Closed Sales\" width=\"600\" height=\"408\" \/><\/a><\/p>\n<p>Still haven&#8217;t broken that 2,000 mark though, despite four months in a row of pending sales in excess of 2,000.<\/p>\n<p>Here is the updated <a title=\"Seattle Bubble Spreadsheet\" href=\"[download(Seattle_Bubble.xlsx)]\">Seattle Bubble Spreadsheet<\/a>, and here&#8217;s <a title=\"Seattle Bubble Spreadsheet (Excel 2003)\" href=\"[download(Seattle_Bubble.xls)]\">a copy in Excel 2003 format<\/a>.  Click below for the graphs and the rest of the post.<\/p>\n<p><!--more-->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\/2009\/08\/kingcosfhinventory2009-07.png\" rel=\"lightbox[6719]\"><img loading=\"lazy\" decoding=\"async\" style=\"border: 0; margin: 5px\" title=\"King County SFH Inventory - Click to enlarge\" src=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2009\/08\/kingcosfhinventory2009-07-600x408.png\" alt=\"King County SFH Inventory\" width=\"600\" height=\"408\" \/><\/a><\/p>\n<p>July came at about the same level as 2007.  I wouldn&#8217;t be surprised to see some more inventory growth this year between now and September, but we probably won&#8217;t hit the 11,000 mark again.<\/p>\n<p>Here&#8217;s the supply\/demand YOY graph.  In place of the now-unreliable measure of pending sales, the &#8220;demand&#8221; in the following two charts is now represented by closed sales, which have had a consistent definition throughout the decade.<\/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\/2009\/08\/kingcosupplyvsdemandpct2009-07.png\" rel=\"lightbox[6719]\"><img loading=\"lazy\" decoding=\"async\" style=\"border: 0; margin: 5px\" title=\"King County Supply vs Demand % Change YOY - Click to enlarge\" src=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2009\/08\/kingcosupplyvsdemandpct2009-07-600x408.png\" alt=\"King County Supply vs Demand % Change YOY\" width=\"600\" height=\"408\" \/><\/a><\/p>\n<p>Another slight YOY increase for sales in July.  Looks like the tax credit and the increased time that it is taking for deals to actually close have managed to stretch this year&#8217;s buying season out a little longer than usual.<\/p>\n<p>Here&#8217;s the chart of supply and demand raw numbers:<\/p>\n<p style=\"margin: 5px auto; width: 600px; font-size: 0.8em; text-align: center;\"><a title=\"King County Supply vs Demand\" href=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2009\/08\/kingcosupplyvsdemand2009-07.png\" rel=\"lightbox[6719]\"><img loading=\"lazy\" decoding=\"async\" style=\"border: 0; margin: 5px\" title=\"King County Supply vs Demand - Click to enlarge\" src=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2009\/08\/kingcosupplyvsdemand2009-07-600x408.png\" alt=\"King County Supply vs Demand\" width=\"600\" height=\"408\" \/><\/a><\/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\/2009\/08\/kingcosfhprices2009-07.png\" rel=\"lightbox[6719]\"><img loading=\"lazy\" decoding=\"async\" style=\"border: 0; margin: 5px\" title=\"King County SFH YOY Price Change - Click to enlarge\" src=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2009\/08\/kingcosfhprices2009-07-600x408.png\" alt=\"King County SFH YOY Price Change\" width=\"600\" height=\"408\" \/><\/a><\/p>\n<p>No big surprise there.  The median price measure is notoriously noisy, and it continues to oscillate up and down.<\/p>\n<p>And lastly, here is the chart comparing King County SFH prices each month for every year back to 1994.<\/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\/2009\/08\/kingcosfhpricesyearly2009-07.png\" rel=\"lightbox[6719]\"><img loading=\"lazy\" decoding=\"async\" style=\"border: 0; margin: 5px\" title=\"King County SFH Prices - Click to enlarge\" src=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2009\/08\/kingcosfhpricesyearly2009-07-600x437.png\" alt=\"King County SFH Prices\" width=\"600\" height=\"437\" \/><\/a><\/p>\n<p>So far, 2009 is tracking pretty closely to 2005.  July 2009&#8217;s SFH median was just $1,000 under the August 2005 SFH median.<\/p>\n<p>I&#8217;ll update this post with news blurbs from the Times and P-I when they become available.  As usual, check back tomorrow for the full reporting roundup.<\/p>\n<p>[Update:]<br \/>\nSeattle Times: <a href=\"http:\/\/seattletimes.nwsource.com\/html\/businesstechnology\/2009605109_webhomesales05.html\" title=\"King County home sales climb to two-year high in July\">King County home sales climb to two-year high in July<\/a><br \/>\nSeattle P-I:  <a href=\"http:\/\/www.seattlepi.com\/local\/409017_housing05.html\" title=\"Home sales up more than 10 percent in King County\">Home sales up more than 10 percent in King County<\/a><br \/>\nKING 5: <a href=\"http:\/\/www.king5.com\/business\/stories\/NW_080509BUB-july-home-sales-TP.af72f113.html\" title=\"Home sales up despite heat wave\">Home sales up despite heat wave<\/a><\/p>\n<p>I&#8217;m sensing a theme&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Let&#8217;s take a look at July market statistics from the NWMLS. The NWMLS press release has not been posted yet, but should be available here later today. Here&#8217;s your King County SFH summary, with helpful arrows to show whether the year-over-year direction of each indicator is positive or negative news for buyers and sellers: July&#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":[8],"tags":[6,521,200],"coauthors":[],"class_list":["post-6719","post","type-post","status-publish","format-standard","hentry","category-stats","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: Closed Sales Inch Higher but Remain Far Below Pendings \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\/2009\/08\/05\/nwmls-closed-sales-inch-higher-but-remain-far-below-pendings\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"NWMLS: Closed Sales Inch Higher but Remain Far Below Pendings \u2022 Seattle Bubble\" \/>\n<meta name=\"twitter:description\" content=\"Let&#8217;s take a look at July market statistics from the NWMLS. 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