Monday, February 1, 2016

Test Your Market IQ

Test your knowledge of today's housing market! Answers are at the bottom (no peeking!)

According to the NWMLS, closed sales during 2015
  1.  were less than in 2014, due to limited inventory
  2.  were roughly the same as last year
  3.  outperformed the prior year by no more than 10%
  4. outperformed the prior year by a more than 14 percent increase.

Compared to 2014, the dollar volume of those closed sales
  1. was less in 2015, due to limited inventory,
  2. was roughly the same in 2015
  3. represents a gain of ten percent
  4. 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?
  1. 4 months
  2. 3.5 months
  3. 2.8 months
  4. 1.3 months 
 Industry analysts tend to use what range as an indicator of a balanced market, favoring neither buyers nor sellers?
  1. 1-2 months
  2. 3-4 months
  3. 4-5 months
  4. 4-6 months
True or False:
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:
  1. 45%
  2. 50%
  3. 53%
  4. 66%
Boeing's employment numbers are still a major factor in the health of the Seattle area economy. True or False:
Boeing has been increasing its employment recently, as reflected in its 2015 hiring.

Happy Investing!

Answers below:
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.

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