Current Market Data
Redfin economists say they expect the cooldown in budgets to lead to a cooldown in price growth over the next few months.
Worsening affordability challenges are affecting first-time homebuyers
Active listings in May were the highest in 18 months, according to the latest Northwest MLS housing activity report.
The shift comes at a great cost as rising mortgage rates continue to keep buyers out of the market.
Nationally, the index posted its highest annual increase ever.
With affordability reduced, some buyers are pulling back from the market forcing sellers to adjust their price expectations.
Soaring home prices and markedly diminished inventory are suppressing housing affordability for many nationwide.
Nevertheless, home prices are expected to continue rising through the end of the year, according to the National Association of REALTORS®.
Seattle rated in the top 10 for electric vehicles, vegan options, public transportation and emissions.
The rate of new single-family home sales fell 16.6% from March’s revised number, while the median sales price jumped to $450,600 from March’s revised median house price of $435,000.