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Tuesday, February 26, 2013

Weird Housing Market Index

11:59 AM
The housing market is up in most major metropolitan areas and it is certainly up in Seattle. The median home price in Seattle has been bumping along the $400,000 price line for the past year, according to statistics from the NWMLS. That varies tremendously by neighborhood. But the weirdest measure of the health of the local housing market is the "honey bucket index." “Our ‘units rented number’ has jumped significantly since last summer, with the Seattle area being the hottest market,” said Steve Barger, Vice President of Business Development forNorthwest Cascade Inc. Honey Buckets is a division of the company. “Last June, all of sudden our rentals were up 12 percent over the previous June.” Portable toilets are a good indicator of the health of the building and construction industry, Barger said, but they also have been good at predicting the health of the overall economy, with some timing adjustments. Stephen H. Dunphy reported on these findings February 12, 2013. Dunphy writes on business and economic issues for Crosscut. He was a business editor and columnist for a number of years at The Seattle Times. View the complete story online at: http://crosscut.com/2013/02/12/econ-finance/112925/honey-bucket-index/

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