There’s a statewide report about the market for the second quarter out from the UW center for real estate research. Most of it is what you’d expect; low inventory, rising prices, and King County standing out for both. I’m paying particular attention to the details at the end about building permits. In a market so desperate for an increase in inventory, seeing new permits down 8% is a bummer.
The Case-Shiller numbers for May-June are out, and there aren’t any huge surprises there, either. We’re still in the fuzzy are-we-aren’t-we territory around whether the market is starting to bubble, but it’s looking more and more like we did embark into bubble lands in the spring.
It might be interesting to take a look at the effects of flood insurance programs on housing. We’re not seeing much flooding in Seattle, despite setting records both for rainfall, and stretches of time without rainfall, this year. Still, good food for thought.