While buyer preferences for more space — both inside and outside the home — remain and supply chain issues continue to stifle home construction efforts, other factors, such as the potential increase in interest rates, are expected to change the game in 2022.
Prices of Seattle waterfront homes are steadily rising, particularly in King County, where waterfront property has been historically expensive.
Nationally, investors bought a record 18% of homes sold in the third quarter of this year, and they are increasingly turning to single-family homes, according to Redfin.
The demand for housing in the U.S. has reached a new all-time high since 2017, a rare occurrence for this time of year when the market typically slows. According to a Redfin report, a recovering economy and all-time low mortgage rates are critical factors in the current market.
As the economy recovers from COVID and the housing market gains traction, homeownership is top of mind for Americans, according to the latest survey from Coldwell Banker Real Estate LLC.
As dramatic rent prices impact states across the nation, renters are searching for more affordable places to call home. Nationally, the median rent price is up over 16% since January, with some cities seeing double that, according to a recent Apartment List report.
Seattle is the fourth most expensive city in Washington for renters, according to a recent Zumper report. The report analyzed active listings last month in 11 metro cities.
Demand for second homes was up 70% from pre-pandemic levels in October, according to a new report from Redfin. This outpaced August’s 48% gain but was below January’s record 91% growth.
Seattle King County Realtors (SKCR) has named Realtor Tom Bernard its Q4 “Good Neighbor” for his volunteer work with Ballard Food Bank.
As of Sept. 30, the National Association of Realtors (NAR) had collected $229.6 in dues from its 1.542 million members, according to a RealTrends report.