Snohomish County Update Jan 4, '08
Just received information about Pending sales for Snohomish co single family homes(SFH):
Dec 06: 763 SFH went pending
Dec. 07: tentatively, 290 went pending. Do the math. That is an ugly percentage drop.
Why my emphasis on Pending units: this is current activity of actual "boots on the ground," where homebuyers were writing contracts.
If 95% of those pending SFH's move to sold status by closing sometime in the next 4-6 weeks, one could argue that this is not a seasonal slowdown per se, but moreso a market that appears to have turned to the consistency of Molasses.
Statistics will be forthcoming soon as released by the NWMLS, so stay tuned for all sorts of "analysis" by my colleagues in the business on a variety of local blogs.
Dec 06: 763 SFH went pending
Dec. 07: tentatively, 290 went pending. Do the math. That is an ugly percentage drop.
Why my emphasis on Pending units: this is current activity of actual "boots on the ground," where homebuyers were writing contracts.
If 95% of those pending SFH's move to sold status by closing sometime in the next 4-6 weeks, one could argue that this is not a seasonal slowdown per se, but moreso a market that appears to have turned to the consistency of Molasses.
Statistics will be forthcoming soon as released by the NWMLS, so stay tuned for all sorts of "analysis" by my colleagues in the business on a variety of local blogs.
Comments
How would you guess refinance business went in Dec? For the past many years, December, historically a slow month in mortgage and escrow has boomed in December.
My title company friends are reporting layoffs and title/escrow branch office closures.
Enough free money for them.