The Weekly Economic & Real Estate Forecast – 07/13/15 to 07/17/15

The Windermere Economist

What I Saw Last Week

Consumer Credit rose by $16.1B in May after increasing an upwardly revised $21.4B (from $20.5B) in April. I had hoped to see a May figure of $17.5B.

Consumer CreditIt was pleasing to see revolving credit expand by $1.6B from $899B to $901B. Overall, Consumer credit has increased by an average of $17.3B every month for the past 12 months. Not bad.

The Northwest Multiple Listing Service provided its figures on the regional housing market and there was very little that surprised me.

MLS1MLS2MLS3As I had forecast, inventory levels rose month-over-month, but remained substantially lower than a year ago. Pending and closed sales were also higher across the board and prices continued their upward march.

I was interested to see that the median single family proce in King County rose to $500,000 – a record number.  Given the fact that sales continue to trend higher, even with…

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