The following is the Whatcom County Single family housing market numbers for November 2009. The amount of single family product is DOWN 16.8% from 3 years ago, and down 7.5% from 1 year ago. The rate of decline is increasing over the previous months. The market segment continues to tighten.
The following chart is for Bellingham, WA, single family home inventories (through November 2009). The amount of single family product is DOWN 32.4% from 3 years ago, and down 12.6% from 1 year ago.
This graph shows the amount of supply in the Bellingham single family market. The current supply is at 5.1 months. That number is down from last month of 6.5 months, last year of 13.3 months and 3 years ago of 7 months. Traditionally when inventory levels are above 6 months supply it indicates a buyers market. When inventory drops below 6 months supply it indicates a sellers market. Technically the market shifted to a sellers market in November of 2009.
The graph below shows new home construction supply for Bellingham over the past 3 years.
