Test your knowledge of today's housing market! Answers are at the bottom (no peeking!)
- were less than in 2014, due to limited inventory
- were roughly the same as last year
- outperformed the prior year by no more than 10%
- outperformed the prior year by a more than 14 percent increase.
Compared to 2014, the dollar volume of those closed sales
- was less in 2015, due to limited inventory,
- was roughly the same in 2015
- represents a gain of ten percent
- represents a gain of nearly 23 percent
True or False:
Last year’s completed sales surpassed the previous highs during 2007
King County has how many months of housing supply?
- 4 months
- 3.5 months
- 2.8 months
- 1.3 months
- 1-2 months
- 3-4 months
- 4-5 months
- 4-6 months
In the NWMLS service area, newly built condos fetched higher prices than newly-built single family homes. *
In 1995, the housing affordability ratio was 53% , as calculated by average monthly US mortgage payment/average monthly income. In 2015, this affordability ratio was:
Boeing has been increasing its employment recently, as reflected in its 2015 hiring.
All eight correct - you are either a housing genius, or you have been reading my blog regularly...
six- seven correct - you know enough to be a savvy real estate professional
five - four correct - everyone has to start somewhere...
less than four correct - remedial training required...
#4 is the answer to all multiple choice questions.
The first two true/false statements are true.
* Last year’s sales of new construction included 8,548 newly built single family homes that sold for a median price of $425,000, and 1,018 condos that sold for a median price of $449,950.
The last T/F question is false. Boeing's employment numbers have dropped in 2015 to 79,238 employees versus more than 86,000 in 2013.