trends: Market Trends: New Construction Continues to Shrink
- 08/07/09 06:56 AM
NEW NWMLS NUMBERS CAME OUT TODAY This graph shows the reduction of all new construction inventory on the Eastside. As you can see the trend continues to level off. The analysis predict this shortage will put a new type of pressure on the housing market: A third or more of home buyers want new. With fewer new homes, slightly used homes or recently renovated homes will demand a higher asking price.
However, if you look at this chart (New Construction Eastside under $500K) you see the trend moving up slightly. This reflects the fact that builders are creating a … (0 comments)
trends: Shrinking new construction inventory on the Eastside.
- 07/05/09 06:45 AM
This graph illustrates the dramatic decline of new inventory on the eastside. Because of the lack of new permits being issued and builders concentrating on selling current inventory, this lack of new construction will put pressure on the overall market.
Other Market indicators: We will continue to see prices stabilizing erasing concerns about buying a home only to see the value drop the new month. About 20 -30% of buyers are looking for new or like new homes, this will create higher demand for homes built after 2005 or 2006 and/or homes that have be recently updated. The … (0 comments)
trends: A Reason For Optimism
- 04/28/09 07:31 AM
HEADLINE: Baltimore Sun: Shortage Of New Homes Seen -- Credit Crunch Means Fewer Units Will Be Ready When Recession Eases Analysts have been predicting a shortage on new homes in the Puget Sound area will start in September due to the lack of new construction permits being issued. Looking at this chart ... (Eastside - New Construction - Based on Pending sales)
...You can see that the months of inventory are shrinking. And at this rate, we will get to a balanced market after September. If it continues we will be in a Seller's market by early next year for … (1 comments)
trends: Kirkland Data & West of Market
- 04/02/09 08:08 AM
For all of you who love data, here is some information about Kirkland. The Case- Sheller index for January (released 3/31) still has values dropping about 3% a month for the Puget Sound area but the annual trend is slowing. West of Market in Kirkland, WA as of April 2nd has about 56 homes listed for sale. Prices range from about $480,000 to $4.9 million. WEST OF MARKET DATA:
With nine pendings and solds over the last six months.
… (0 comments)
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