Housing Market & Economic Data
Below you will find current real estate trend data for Snohomish County along with unemployment data and current mortgage rates. This data provided insights into the health of our current housing market.
If you're interested in more localized data (by zip code, neighborhood, etc) and/or additional housing trend data within Washington State (or beyond), please email me - joe.frank@exprealty.com
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If you would like to discuss your specific situation as it pertains to buying or selling in our current market, or scenario planning for the future, please feel free to email or set up a free 30 minute consultation.
Snohomish County Real Estate Trend Data
All following housing market trends contains data for previously owned homes only. For new construction data / trends, please contact me.
Average Home Sales Price data for Snohomish County. This chart illustrates the average house sales price trend within Snohomish County. The data refreshes monthly and has a one month lag.
Average Days Homes are Listed for Sale within Snohomish County. A trend of the average number of days a home is listed for sale before it has an accepted offer (or removed/expired). The data refreshes monthly and has a one month lag.
Number of Home for Sale in Snohomish County. This chart shows the trend for the number of houses listed for sale within Snohomish County. The data refreshes monthly and has a one month lag.
Number of NEW Homes Listed for Sale in Snohomish County. This chart depicts the trend of the number of new homes listed for sale within Snohomish County by month. The data refreshes monthly and has a one month lag.
Home Sales Price as an Average % of Last Original Price in Snohomish County. This chart illustrates the average home sale prices compared to the original list price. Example: 104.0% indicates on average, homes sold for 4% over the original listed price. 100% represents that homes are selling at the list price.
Average Number of Home Showings per Listing in Snohomish County. This chart shows how much foot traffic (physical viewings) homes are receiving on average per month in Snohomish County to the point of an offer being accepted. The data refreshes monthly and has a one month lag.
Pending Sales in Snohomish County. This chart illustrates the average number of Pending Sales. This is leading indicator of home sales for the next 30 to 60 days (avg. time to close on a home upon offer acceptance). Not all pending sales will close (80% make it through closing to become a finalized home sale).
Average Price Per Square Foot in Snohomish County. This chart illustrates the average price of a home per square foot (sales price divided by square footage). This value can be used to compare homes in the same area that vary significantly in square footage and sales price (or to help price a home).
The Percentage of Home for Sales with Price Reductions in Snohomish County.
This chart from Redfin.com illustrates the number of homes listed for sale that have incurred a reduction in the original listed sales price. Home price reductions are normally enacted when a listed home is not getting the "action"(inquiries, traffic, and/or offers) the owner was expecting (or needing). This trend data from Redfin reflects monthly data and has a one week lag.
Current Mortgage Rates & Trend
Current Mortgage Rates from Mortgage News Daily. These are national average rates along with a historical trend chart for the 30 year fixed mortgage. With this Mortgage Calculator, quickly estimate a house payment based on portion of home purchase price to be financed, current mortgage interest rate, and the term (number years home will be financed).
The average mortgage interest rate is updated daily under "Current"
The 30 year fixed mortgage rate tracks closely to the 10-Year US Treasury Bond, with an added percentage premium.
Learn how this process works in this article from Investopedia.com
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You can see the historical relationship between the average 30-Year Fixed Rate Mortgage and 10-year US Treasury Bond in the chart to the right from FRED.
Weekly Mortgage Applications
This chart reflects weekly mortgage application data as reported by the Mortgage Brokers Association (MBA). This data provides a glimpse into the real estate market and the number of folks pursuing a mortgage to purchase a new home.
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Per TradingEconomics.com, "in the US, the MBA Weekly Mortgage Application Survey is a comprehensive overview of the nationwide mortgage market and covers all types of mortgage originators, including commercial banks, thrift institutions and mortgage banking companies. The entire market is represented by the Market Index which covers all mortgage applications during the week, whether for a purchase or to refinance. The survey covers over 75% of all US retail residential mortgage applications."
Number of Unemployed Persons - Snohomish County
Unemployed persons within Snohomish County. This trend chart can provide insight into the health of our local Snohomish County economy, and hence, the real estate market. It's important to note that unemployment data can swing up and down based on seasonality drivers.
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Data is provided by the US Bureau of Labor and Statistics and is updated monthly with a two month lag.
US Jobless Claims - 2010 to Present
Jobless Claims - US Overall. This trend chart from FRED shows current jobless claims. Some economists and market gurus predict that jobless claims will need to INCREASE to around 330,000 in order for the Fed to stop raising, and possibly begin lowering the Fed Funds Rate. This would be a positive for the health of the economy and future outlook, and ultimately could drive mortgage interest rates downward.
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Data is provided by the U.S. Employment and Training Administration via FRED. Updated weekly, on Saturdays.
Heavy Weight Truck Sales - National
Heavy Weight Truck Sales. This trend chart may seem out of place, but it helps tell a story... It depicts national sales of heavy trucks (those greater than 14,000 lbs) which are most often used to transport raw materials, components, and finished products around the United States. More trucks being built and sold signals a more robust and stronger economy, the opposite is also true.
As can be seen from the chart (from 1970 to current), sales of heavy trucks decline when there is concern over the health and direction of the US economy. This is due to the expectation there will be less "stuff" (raw materials, retail goods, etc) to transport, ultimately, due to less consumer demand.
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This chart is telling relative to the health of the broader economy - both where we're at, and where we may be headed. This in turn can shape our local economies, and ultimately, housing markets.
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Data is provided by the US Bureau of Economic Analysis via FRED. Data and chart are updated monthly by the 2nd of the month with a two month lag.