Real Estate

2018 kicks off with the identical tight market as 2017 • Seattle Bubble

Now that January is completed, let’s take a look at our common month-to-month “preview” charts. I apologize for the delay on this put up. Our stock tracker from Estately is down and I hoped it might come again up, however to date no luck there.

Right here’s the abstract for January: Yet one more new all-time low level for stock in each counties. Gross sales have been decrease than a 12 months earlier, however not dramatically. Foreclosures are nonetheless mainly zero.

Right here’s the snapshot of all the info way back to my historic info goes, with the most recent, excessive, and low values highlighted for every sequence:

To this point there are not any glimmers of hope for consumers as 2018 kicks off.

Subsequent, let’s take a look at whole house gross sales as measured by the variety of “Guarantee Deeds” filed with King County:

Gross sales in King County decreased thirty % between December and January (a 12 months in the past they fell twenty-three % over the identical interval), and have been down 9 % year-over-year.

Right here’s a take a look at Snohomish County Deeds, however remember the fact that Snohomish County information Guarantee Deeds (common gross sales) and Trustee Deeds (financial institution foreclosures repossessions) collectively underneath the class of “Deeds (besides QCDS),” so this chart just isn’t nearly as good a measure of plain vanilla gross sales because the Guarantee Deed solely knowledge we now have in King County.

Deeds in Snohomish decreased twenty-two % month-over-month (vs. an eighteen % lower in the identical interval final 12 months) and have been down six % from a 12 months earlier.

Subsequent, right here’s Notices of Trustee Sale, that are a sign of the variety of properties at the moment in the foreclosures course of:

Foreclosures notices in King County have been down thirty-two % from a 12 months in the past and Snohomish County foreclosures notices have been down fifty-five % from final 12 months. The month-to-month variety of foreclosures by no means actually traditionally goes decrease than it’s proper now.

Right here’s one other measure of foreclosures for King County, taking a look at Trustee Deeds, which is the kind of doc filed with the county when the financial institution really repossesses a home by the trustee public sale course of. Be aware that there are different methods for the financial institution to repossess a home that end in completely different paperwork being filed, comparable to when a borrower “turns within the keys” and information a “Deed in Lieu of Foreclosures.”

Trustee Deeds have been down thirty-seven % from a 12 months in the past. The quantity edged up from December, however continues to be close to historic lows.

Lastly, right here’s an replace of the stock charts, up to date with earlier months’ stock knowledge from the NWMLS.

Stock rose 4 % between December and January in King County, however was nonetheless down twenty-three % from a 12 months earlier.

In Snohomish County listings have been up seven % month-over-month and down fifteen % year-over-year.

Be aware that many of the charts above are based mostly on broad county-wide knowledge that’s accessible by a easy search of King County and Snohomish County public data. When you’ve got further stats you’d prefer to see within the preview, drop a line within the feedback and I’ll see what I can do.

Keep tuned later this month a for extra detailed take a look at every of those metrics because the “official” knowledge is launched from varied sources.

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