TACOMA — Low available housing inventory continues to be the story for South Sound when it comes to home buying, and a new report adds some context.
On Jan. 6, Atlas Van Lines released its annual report on moves between states as well as international moves. Washington was second only to Idaho with its percentage of inbound moves as compared to outbound ones.
North Carolina, New Mexico, Tennessee, Rhode Island, Arizona, Alabama, District of Columbia and Texas rounded out the top 10 inbound destinations in the Atlas report.
Washington, along with California, also made the list among top-10 international origins and destinations, according to the Atlas Van Lines report.
Washington last year ranked seventh among top states for inbound moves. Historically, Washington has registered as inbound since 2014, according to Atlas.
Oregon’s outbound vs. inbound moves showed a balanced number for the first time since 2012.
The state with the highest percentage of outbound moves was New York, followed closely by West Virginia.
The other top outbound states: South Dakota, Illinois, Louisiana, New Jersey, Delaware, Nebraska, Indiana and Connecticut.
Atlas’ report came the same day as the Northwest Multiple Listing Service’s December review of existing home sales, which showed total number of active listings for existing homes and condos combined down nearly 39 percent from the same time last year. King and Snohomish counties also saw similar percentage declines compared with December 2018.
Thurston County was down just more than 54 percent from a year go in its total active listings (homes and condos).
It wasn’t much better in the single-family home inventory category.
“The inventory of single family homes (excluding condos) is especially tight in several counties, notably Thurston (minus 54 percent), King (minus 41.4 percent), Pierce (minus 40 percent), Snohomish (minus 36.1 percent), and Kitsap (minus 34.3 percent),” NWMLS said in a news release accompanying the report.
“This market is unlike any market I’ve seen in the South Sound over the past 40 years. Too many buyers chasing too few properties,” said Dick Beeson, principal managing broker at RE/MAX Northwest in Gig Harbor in the NWMLS release.
Closed median home sale prices for the area in December, according to NWMLS:
• King, $675,000
• Pierce, $375,000
• Snohomish, $510,000
• Kitsap, $380,000
• Thurston, $340,000
• Mason, $268,500
Atlas Van Lines has performed its annual relocation analysis since 1993. NWMLS is scheduled to release its own review of 2019 later in January.
