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