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Monday, September 16, 2019



Home Buyers Seeking Affordability Are Expanding Search Outside Greater Seattle Job Centers  


KIRKLAND, Washington (September 9, 2019) - Depleted inventory continues to frustrate would-be buyers in Western Washington. Many of these potential homeowners are expanding their search beyond the major job centers in King County, according to market watchers who commented on the latest statistics from Northwest Multiple Listing Service.
The MLS report summarizing August activity shows less than two months of supply system-wide, and only about 1.6 months of supply in the four-county Puget Sound region. The sparse selection is pushing up prices. For last month's sales of single family homes and condos across the 23 counties served by Northwest MLS, prices rose nearly 6.2% compared to a year ago.
"Areas immediately outside the Puget Sound region and along the I-5 corridor continue to see double-digit house price growth," noted James Young, director of the Washington Center for Real Estate Research (WCRER) at the University of Washington. He attributes the increase to high demand in these areas "due to first-time homebuyers who struggle to afford housing in King and Snohomish counties as well as from existing homeowners cashing out of Seattle and King County."
"While August is always a slower time for listings and sales, what is really surprising this year is the  decrease in new listings taken, while pending sales increased," observed Mike Grady, president and COO of Coldwell Banker Bain.
A comparison of year-over-year statistics for August shows the volume of new listings dropped nearly 13% system-wide and 18.5% in King County. Last month's total number of new listings (10,488) declined 6.3% from July's volume (11,193).

Monday, January 14, 2019

Attentive home buyers can find "good values and receptive sellers" 

Monday, December 31, 2018


US long-term mortgage rates dropped to 4.55 pct. average
U.S. long-term mortgage rates fell this week, offering a slight degree of relief to would-be home buyers after the stock market has tumbled. Mortgage buyer Freddie Mac said Thursday that the average rate on the benchmark 30-year, fixed-rate mortgage dipped to 4.55 percent from to 4.62 percent last week. Rates averaged 3.99 percent a year ago.  Read Entire Story

Thursday, December 13, 2018

Home buyers have "window of opportunity" with shift to more balanced market


Read the NWMLS December Report of the market HERE

Tuesday, February 20, 2018

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