Continuing our week-long look at the US Housing Market by region, here’s look at the 2009 year-end Median Ask Price and Active Inventory trends for the largest Pacific Northwest markets.
- Median ask prices are declining steadily in each of the four markets highlighted in the Pacific Northwest.
- Seattle held up pretty well through 2008, by hit a downward slide throughout 2009, entering 2010 on a continued downward trend.
- Reno experienced the largest percentage price drop since mid-2008, and along with Boise, exhibited no Spring-time bounce in 2009.
- Seattle inventory trends are clearly seasonal, with an elevated supply floor each year since 2007.
- Portland appears to have peaked in 2008, flattening out in 2009.
- Boise & Reno are showing relatively stable supply levels, but declining moving into 2010. This could be likely due to increase foreclosures in these areas.
The Southwest and Texas are next on the list…. Stay tuned.
(Check out our Real-Time Real Estate Market Report – it’s a free report that we send out monthly. It’s “tip of the iceberg” compared to the data and market analytics available via subscription, but offers a nice look at metro-level housing trends. Sign up to receive the report here.)