Western WA Housing Update - June 15

Key Market Indicators - June 1, 2015

EASTSIDEHOUSING UPDATE

OVERALL MARKET AREA

MonthsSupply Price TrendLevel

3 to 4 Low Up single digits

5 to 6 Healthy Equilibrium

7 to 8 Adjusting Down single digit

9+ Correction Major correction

© John L. Scott 2015

1 to 2 Shortage Upper single digit +.94*

June 1, 2015

Interest Rate Descriptor

4% Phenomenal

5% Fantastic

6% Great

7% Good

3% Unbelievable

Source: Bankrate

*For all of King County

80%

70%

60%

50%

40%

30%

20%20%

10%

0%Normal Current

Percent of Homes Selling in the First 30 Days

Eastside Market - Based on Pending Contracts,

Resale and New Construction (June 1, 2015)

Ask your broker for the month’s supply

for your selected price range/area.

Quick Market for New Listings For May 2015 - Resale

Historically Low Interest Rates

Shortage of Homes for Sale

It’s the best start ever for sales activity. Based on cumulative

pending home sales in the four county areas, (King,

Snohomish, Pierce, and Kitsap) sales activity in the rst ve

months of 2015 is outpacing the previous record year of

2005. But this time the housing market is built on a strong

foundation of qualied buyers.

Surge Sales Activity (May 2015)

SURGE

STRONG

HEALTHY

ADJUSTING

CORRECTION

Hottest Market in History, Ever!


SEATTLEHOUSING UPDATE

OVERALL MARKET AREA






1 to 2 Shortage Upper single digit +.94*Seattle Market - Based on Pending Contracts,




Shortage of Homes for Sale2

June 1, 2015


4% Phenomenal

5% Fantastic

6% Great

7% Good

3% Unbelievable 3.9%

Source: Bankrate

80%

70%

60%

50%

40%

30%

20%20%

10%

0%Normal Current


30%

79%


Quick Market for New Listings For May 2015 - Resale3










SOUTH KING COUNTYHOUSING UPDATE

OVERALL MARKET AREA






1 to 2 Shortage Upper single digit +.94*


June 1, 2015


4% Phenomenal

5% Fantastic

6% Great

7% Good


Source: Bankrate

70%

60%

50%

40%

30%

20%

10%10%

0%Normal Current


25%

67%

South King County Market - Based on Pending

Contracts, Resale and New Construction (June 1, 2015)







pending home sales in the four county areas, (King, Snohomish,

Pierce, and Kitsap) sales activity in the rst ve months of 2015

is outpacing the previous record year of 2005. But this time

the housing market is built on a strong foundation of qualied

buyers.



SURGE

STRONG

HEALTHY

ADJUSTING

CORRECTION



SNOHOMISH COUNTYHOUSING UPDATE

OVERALL MARKET AREA






1 to 2 Shortage Upper single digit +


4% Phenomenal

5% Fantastic

6% Great

7% Good

3% Unbelievable

Source: Bankrate

80%

70%

60%

50%

40%

30%

20%20%

10%

0%Normal Current


30%

68%

Snohomish County Market - Based on Pending

Contracts, Resale and New Construction (June 1, 2015)
















PIERCE COUNTYHOUSING UPDATE






1 to 2 Shortage Upper single digit +1.6


4% Phenomenal

5% Fantastic

6% Great

7% Good


Source: Bankrate

60%

50%

40%

30%

20%

10%

0%0%

Normal Current


25%

51%

Pierce County Market - Based on Pending Contracts,












buyers.



SURGE

STRONG

HEALTHY

ADJUSTING

CORRECTION



KITSAP COUNTYHOUSING UPDATE





9+ Correction Major Correction

1 to 2 Shortage Upper single digit +


4% Phenomenal

5% Fantastic

6% Great

7% Good


Source: Bankrate

60%

50%

40%

30%

20%

10%

0%0%

Normal Current


25%

61%

Kitsap County Market - Based on Pending Contracts,













buyers.


SURGE

STRONG

HEALTHY

ADJUSTING

CORRECTION


Western WA Housing Update - June 15

Documents

Transcript of Western WA Housing Update - June 15