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.
Median Housing Ask Prices: Seattle, Portland, Boise & Reno
- 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.
Active Housing Supply: Seattle, Portland, Boise & Reno
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.)
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