18,725

[Matthew]

[carlislematthew]

[The Tim]

King County SFH Inventory, 06.30 - Today:



A slight dip during the holiday week, and now pressing onward to new heights.

Definitely not a 60%+ drop.

[deejayoh]

Good chart Tim. Must be that excel 2007, huh

BTW, was the the "official" 6/30 inventory something like 9400? That woudl be pretty much on the line for your chart. I remember the number from Windermere seeming a bit high at month's end.

[finance]

Guys don't get me wrong, I do believe inventory is rising significantly and prices are "moderating". My prediction is that prices will turn slightly flat to negative (5% to -5% per year) in 2008 & 2009. I don't plan on selling until 2012 (due to tax reasons) and will rent it out starting in 2009 (as I will need a larger space to live in by then...probably buy another condo).

The past two weeks I have seen list prices rise strongly with quick sales. My neighbor just sold his studio condo for $185k, bought it 13 months ago for $150k, which sold on the first day. I am doing a refi and will save ~$300 bucks per month due to getting rid of my PMI and getting a lower rate since my DTI ratio is much lower than last year (will take ~9 - 10 months to recoup my refi costs). Also have a good friend doing the deal (yes she is hot) and get a 0.25% friends and family discount (I also confirmed that it wasn't just a sham gimmick they say, another gal from the same company gave me a quote exactly 0.25% higher the same day, lol). My APR is going to be 6.54% from the doc's.

[The Tim]

[SeattleMoose]

From the data that I have been keeping since 5/06 here are the YOY inventory percent changes (SFH and condo) for this week:

King Co - +79%
Pierce Co - +69%
Snohomish Co - +85%

Here are percent increases in inventory for select neighborhoods since 2/07:
Bellevue - +124%
Des Moines - +120%
Federal Way - +128%
Kent - +110%
Kirkland - +89%
Seattle - +114%

What you can't see here is the tremendous upsurge in inventory from end of June until now....it is like somebody flipped a switch and fear is setting in???

[sniglet]

[Jazen]

[mike2]

While I don't doubt the huge inventory declines are due to a glitch, we may also be seeing waves of 90 day expirations from the beginning of April.

[Matthew]