Current Market Data

Mortgage rates fall to four-month low as buyers return to market

Homebuyers may catch a break this month as rates have come down nearly a point from the recent high on fears of a recession.

Seattle, Redmond among the nation’s highest rent communities

Redmond was No. 8 nationally, with an average monthly rent of $4,222.

Northwest MLS housing inventory surges to its highest point in 3.5 years

The 2.01 months of housing supply in July is the most since it was 2.3 months three-and-a-half years ago.

Rental and homeowner vacancy rates still near historic lows, Census data shows

The national rental vacancy rate dropped to 5.6% in the second quarter of the year while the homeowner vacancy rate remained at 0.8%.

CoreLogic: Home-price increases remain strong in June but continue to slow 

Home prices were up 18.3% on a year-over-year basis and 0.6% month over month. Looking ahead, CoreLogic expects year-over-year appreciation to slow to 4.3% by June 2023. 

After May bump, pending-home sales hit June dip 

“Contract signings to buy a home will keep tumbling down as long as mortgage rates keep climbing, as has happened this year to date.” — National Association of Realtors chief economist Lawrence Yun  

June new-home sales drop 8.1% month over month

At the same time, the inventory of new homes for sale rose 10.7%, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development reported.

S&P Corelogic Case-Shiller Index: Seattle home prices rise 23.4% in May

Housing data for May 2022 continued strong, as price gains decelerated slightly from very high levels,” Craig J. Lazzara, managing director at S&P DJI, said.

Single-family housing starts fall for fourth month in a row in June 

The pace of new multifamily construction, however, jumped, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.  

Housing prices begin to fall from June’s record-breaking peak

Inflation and high mortgage rates are impacting potential homebuyers which means fewer sales, more supply and a drop in home prices. 

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