The following is the Whatcom County Single family housing market numbers for December 2009. The amount of single family product is DOWN 12.6% from 3 years ago, and down 7.6% 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 December 2009). The amount of single family product is DOWN 26.1% from 3 years ago, and down 10.4% from 1 year ago.
This graph shows the amount of supply in the Bellingham single family market. The current supply is at 6.3 months. That number is up from last month of 5.1 months, down from last year of 9 months and 3 years ago of 7.3 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.
