Snohomish County monthly real estate stats

September 20, 2016| Snohomish County Homes INC.

 Snohomish County Home

Snohomish County Statistics as of August 2016

Active Inventory: +13% Aug 2016 vs. Aug 2015

2009 available homes currently on market -46 vs. last month.

Pending Transactions: Up 14% Aug 2016 vs. Aug 2015

2071 units +94 vs. last month

Sold Transactions:+7% Aug 2016 vs. 2016

1748 units +75 than last month

Days on Market

Snohomish County Active to pending 26 days vs. 35 a year ago up 2 days from last month.

Median home price in Snohomish County is at a record high of $395,000!!!  +9% last year.  Down $3,000 from last month.

Area price % based on last Quarter

Bothell + 11%, Edmonds/Lynnwood +7%. Everett/Mukilteo +7%

Snohomish/Monroe+ 13%. Lake Stevens/Granite Falls +6%.

Marysville +14%

National Real Estate News

Posted: 24 Jul 2014 09:31 AM PDT

The new home sales report for June – combined with the downward revisions for previous months – was very weak.

The Census Bureau reported that new home sales this year, through June, were 225,000, Not seasonally adjusted (NSA). That is down 4.3% from 235,000 during the first half of 2013 (NSA).

Maybe sales will move sideways for a little longer, but remember early 2013 was a difficult comparison period. Annual sales in 2013 were up 16.3% from 2012, but sales in the first four months of 2013 were up 26% from the same period in 2012!

New Home Sales 2013 2014

Click on graph for larger image.

This graph shows new home sales for 2013 and 2014 by month (Seasonally Adjusted Annual Rate).

The comparisons to last year will be a little easier in Q3, and I still expect to see year-over-year growth later this year.

And here is another update to the “distressing gap” graph that I first started posting several years ago to show the emerging gap caused by distressed sales.  Now I’m looking for the gap to close over the next few years.

Distressing Gap

The “distressing gap” graph shows existing home sales (left axis) and new home sales (right axis) through June 2014. This graph starts in 1994, but the relationship has been fairly steady back to the ’60s.

Following the housing bubble and bust, the “distressing gap” appeared mostly because of distressed sales.

I expect existing home sales to decline or move sideways (distressed sales will slowly decline and be partially offset by more conventional / equity sales).  And I expect this gap to slowly close, mostly from an increase in new home sales.

Note: Existing home sales are counted when transactions are closed, and new home sales are counted when contracts are signed. So the timing of sales is different.

 
New Home Sales decrease to 406,000 Annual Rate in June

Posted: 24 Jul 2014 07:13 AM PDT

The Census Bureau reports New Home Sales in June were at a seasonally adjusted annual rate (SAAR) of 406 thousand.

May sales were revised down from 504 thousand to 442 thousand, and April sales were revised down from 425 thousand to 408 thousand.

Sales of new single-family houses in June 2014 were at a seasonally adjusted annual rate of 406,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 8.1 percent below the revised May rate of 442,000 and is 11.5 percent below the June 2013 estimate of 459,000.

New Home Sales

Click on graph for larger image.

The first graph shows New Home Sales vs. recessions since 1963. The dashed line is the current sales rate.

Even with the increase in sales over the previous two years, new home sales are still close to the bottom for previous recessions.

The second graph shows New Home Months of Supply.

New Home Sales, Months of Supply

The months of supply increased in June to 5.8 months from 5.2 months in May.

The all time record was 12.1 months of supply in January 2009.

This is now in the normal range (less than 6 months supply is normal).

“The seasonally adjusted estimate of new houses for sale at the end of June was 197,000. This represents a supply of 5.8 months at the current sales rate.”

New Home Sales, Inventory

On inventory, according to the Census Bureau:

“A house is considered for sale when a permit to build has been issued in permit-issuing places or work has begun on the footings or foundation in nonpermit areas and a sales contract has not been signed nor a deposit accepted.”

Starting in 1973 the Census Bureau broke this down into three categories: Not Started, Under Construction, and Completed.

The third graph shows the three categories of inventory starting in 1973.

The inventory of completed homes for sale is still low, and the combined total of completed and under construction is also low.

New Home Sales, NSA

The last graph shows sales NSA (monthly sales, not seasonally adjusted annual rate).

In June 2014 (red column), 38 thousand new homes were sold (NSA). Last year 43 thousand homes were also sold in June. The high for June was 115 thousand in 2005, and the low for June was 28 thousand in 2010 and 2011.

This was well below expectations of 475,000 sales in June, and sales were down 11.5% year-over-year.

#nationalrealestatenews  #snohomishcountyhomesrealestate
Information obtained from http://www.calculatedriskblog.com

 

 

 
 

WEEKLY DOSE OF Real Estate Awesomness

MORTGAGE & FINANCE news

7 steps to help you navigate the mortgage process

5 tips for unmarried couples buying a house together

 5 tips to help you win a bidding war for your new home

REAL ESTATE news

 Seattle-Bellevue-Everett Metro area 3rd fastest-moving housing market in U.S.

 Home Tips

So you boldly painted a wall a vibrant red. Now what?

 5 ways to turn that drab deck into a relaxing summer oasis

 Tips for cutting down waste while entertaining this summer

 Water conservation tips for Seattle and all Puget Sound homeowners

Just for fun! Take a look at this Everett Home listed for Sale.

What a view of the Cascades and the entire Snohomish Valley!  Can you imagine waking up each morning and having coffee on the deck to this? Its one of the very many scenic views our community offers and is the reason I call this area home.

 View6

 #snohomishcountyrealestate

#snohomishcountyhomesforsale

Friday’s Quick Real Estate Tips

 

Quickly calculate if your home was a good investment

Top 10 things you need to know when buying a house

Short and Sweet Real Estate News

Buyers hope to make their offer stand apart with personal appeals to sellers

7 things buyers love and seller’s fail to mention

 

And just for fun do you know its the Great American Backyard Campout this weekend? If its not raining this weekend try it and have some fun!

 

Tuesday Tid Bit Real Estate News

Whew! A bit late I guess Tuesday evening for the news but its end of the School Year fun and with two boys all these events are making for one tired mom who is up working late.

So if your up as late as me here is your Tuesday Tidbit Real Estate News.

From Fannie Mae: Spring-Summer Buying and Selling Season Sputters Despite Drop in Mortgage Rates

“Consumers’ lukewarm income expectations and reticence about the economy seem to be holding back housing demand,” said Doug Duncan, senior vice president and chief economist at Fannie Mae. “This year’s spring and summer home buying season has gotten off to a slow start, even as mortgage rates have trended lower over the past two months. Our National Housing Survey data show that economic conditions continue to be the top concern among consumers who think it’s a bad time to buy or sell a home. While recent housing activity suggests that the worst of the housing slump may be behind us, this caution among consumers supports our expectation that the rebound in home sales will likely be too modest to pull sales for all of 2014 ahead of last year.”
As a reminder: a decline in existing home sales this year is not “bad news”. With fewer distressed sales and less investor buying, it is no surprise that existing home sales are down. I expect housing starts and new home sales (the key for GDP and employment growth) to increase this year and also in 2015.

Other  news included the research data that demand for purchase mortgages in the last three months gained a cumulative 9%. On the pricing front, a national listing site said prices are beginning to stabilize. Their chief economist explained: “…home price changes are looking more balanced, sustainable and widespread than at any point since the price recovery began.” With home prices still rising, but in a more controlled fashion, there are now more than 43 million homes with equity. This should encourage more people to put their properties on the market, improving the inventory situation. 

I know buyers will like to hear this.  I just secured a home for a buyer of mine that had 5 offers! Since it was the only Rambler in that zip code for sale you can imagine how happy they are.

FHA Approved Condo With 2 Garages!!!

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News You Can Use~ Mortgage Rates 4.27%

Check out these articles for great information about our community and the real estate industry.

MORTGAGE & FINANCE news

10 reasons to take the plunge into homeownership

http://money.usnews.com/money/personal-finance/articles/2014/04/15/when-homeowners-are-better-off-than-renters

Americans now consider real estate best option for long-term investments

http://www.gallup.com/poll/168554/americans-sold-real-estate-best-long-term-investment.aspx

Average 30-year mortgage rate falls to 4.27%

http://www.usatoday.com/story/money/personalfinance/2014/04/17/mortgage-rates/7823375/

Earth Day: Energy-efficient mortgages have you spending now to save money later

http://money.usnews.com/money/blogs/my-money/2014/02/07/how-an-energy-efficient-mortgage-can-save-you-money

REAL ESTATE news

Is your home ready for your retirement?

http://realestate.aol.com/blog/2014/04/18/home-remodel-design-aging-in-place/

10 home feature trends for 2014

http://www.cbsnews.com/media/10-home-feature-trends-for-2014/10/

 

earth day

Earth Day: 15 tips to make your home more green

http://blog.redfin.com/blog/2014/04/15-tips-to-make-your-home-more-green.html

LOCAL news

Price gains in 2014 don’t indicate a bubble, correction and inflation the cause of increases

http://blog.seattlepi.com/seattlewaterfronthomes/2014/04/15/is-there-a-real-estate-bubble-in-seattle-inflation-and-11-of-our-home-equity-says-no/

Pierce County still cheaper to buy than rent a home

http://www.thenewstribune.com/2014/02/19/3056712/in-pierce-thurston-counties-its.html?sp=/99/261/273/

Earth Day: Downtown Bellevue and Seattle’s Columbia City among top 10 green neighborhoods in the nation

http://blog.redfin.com/blog/2014/04/top-10-neighborhoods-for-green-homes.html#.U1SWO-aMWRM

WEEKLY DOSE OF awesomeness

Did you know Earth Day was first announced in 1969 at a conference in Seattle?

http://www.history.com/topics/holidays/earth-day

Earth Day: 3 free apps to help you go green

http://parade.condenast.com/280529/viannguyen/3-free-apps-to-help-you-go-green-this-earth-day/

 

 

Real Estate News

Here are some top articles with Real Estate quick stats and “should knows” if thinking of buying or selling this spring.

Short and Sweet Real Estate News

Single family starts were up a strong 6.0% in March and are up 9.1% over the last two months. The 5-month moving average is the highest since July 2008. Plus, the number of homes under construction (started but not finished) is up 21% over a year ago!

March listings on realtor.com were up 9.5% from a year ago. In addition to better selection, buyers get more time to decide. The median age of inventory was 102 days.

Good News!! So how about those loans? 

Mortgage Lenders Ease Rules for Home Buyers in Hunt for Business

While standards remain tight by historical measures, lenders have started to accept lower credit scores and to reduce down-payment requirements.

Another sign that banks could get less picky: Credit scores for borrowers seeking conventional mortgages also are easing. Scores on purchase mortgages stood at 755 in March, down from 761 a year earlier, according to data from Ellie Mae, a mortgage-software provider. Those on purchase loans backed by the FHA dropped to 684, compared with 696 one year earlier. …

Smaller lenders are accepting even lower scores. Average credit scores on purchase loans closed through a consortium called LendingTree fell to 679 in March, down from the year-earlier 715.

“Tiny fractions of borrowers can do things that they could not a year ago,” said Lou Barnes, a mortgage banker in Boulder, Colo.

No one wants a return to the loose lending standards of the mid-00s – and I hope we never see another Alt-A loan – but I expect standards to loosen over the next few years. From Nick Timiraos and AnnaMaria Andriotis at the WSJ

And finally are you thinking of buying or selling? Here are some great articles and information from Zillow.

Home Shopping Season is Here
Spring marks the start of the home shopping season, when more houses typically come on the market and more buyers are searching for a home. Check out our tips below to ease your home shopping or selling experience.

Strategies for Buyers

Advice for Sellers