Comments on: February 2008 Market Update http://seattlecondosandlofts.com/2008/03/february-2008-market-update News and Reviews of Seattle's Condo and Loft Communities Fri, 05 Sep 2008 15:49:44 +0000 http://wordpress.org/?v=2.6 By: Ben_Kakimoto http://seattlecondosandlofts.com/2008/03/february-2008-market-update#comment-40361 Ben_Kakimoto Fri, 07 Mar 2008 09:13:22 +0000 http://seattlecondosandlofts.com/2008/03/february-2008-market-update#comment-40361 I agree that YoY data is more reliable. Though, I believe it does show a sign of confidence as February reflected the first significant MoM increase in pending volume after a downward trend last year. Considering the mortgage fallout and elimination of loan programs, more restrictive mortgage qualifications, continued uncertainty about the economy and rising interest rates, it is a sign of confidence that people are investing in real estate. Looking at the same period last year, during a strong condo market, there was only a 16.3% increase in pendings from January to February. The market wasn't dealing with mortgage issues or economic woes back then. Reluctant. Really? I thought I was rather forthcoming with this information. I agree that YoY data is more reliable. Though, I believe it does show a sign of confidence as February reflected the first significant MoM increase in pending volume after a downward trend last year. Considering the mortgage fallout and elimination of loan programs, more restrictive mortgage qualifications, continued uncertainty about the economy and rising interest rates, it is a sign of confidence that people are investing in real estate.

Looking at the same period last year, during a strong condo market, there was only a 16.3% increase in pendings from January to February. The market wasn’t dealing with mortgage issues or economic woes back then.

Reluctant. Really? I thought I was rather forthcoming with this information.

]]> By: Colin http://seattlecondosandlofts.com/2008/03/february-2008-market-update#comment-40348 Colin Fri, 07 Mar 2008 06:32:43 +0000 http://seattlecondosandlofts.com/2008/03/february-2008-market-update#comment-40348 "Compared to January there was a 20.7% increase in the number of properties going under contract (pendings), a sign of buyer’s confidence in the market." You can't seriously expect your readers to believe that a month-month change, with no seasonal adjustment, is "a sign of buyer’s confidence." January is always a slow month. As you reluctantly admit, the appropriate comparison is with the same month in previous years and that comparison shows major indicators moving against you. And if it's a verb, "pick up" is two separate words. “Compared to January there was a 20.7% increase in the number of properties going under contract (pendings), a sign of buyer’s confidence in the market.”

You can’t seriously expect your readers to believe that a month-month change, with no seasonal adjustment, is “a sign of buyer’s confidence.” January is always a slow month. As you reluctantly admit, the appropriate comparison is with the same month in previous years and that comparison shows major indicators moving against you.

And if it’s a verb, “pick up” is two separate words.

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