Home-purchase activity remained elevated from 2024, but a cloudy economic outlook has deterred some would-be homebuyers. 

After years of fast-paced home sales, tight inventory and relentless price growth, the U.S. housing market may finally be entering a new chapter.

A $75 million estate on Lake Washington tops this month’s list of the 10 most expensive new listings in Seattle.

Geographically, the only region to post a monthly increase in pending sales was the Northeast, where they rose 2.1%, according to NAR’s Pending Home Sales Index.

Nationally, the pace of home-price appreciation declined to its slowest pace in almost two years, according to the S&P CoreLogic Case-Shiller U.S. National Home Price Index. 

A new report from U-Haul identified the most common states of origin for do-it-yourself movers who relocated to Seattle.

Real estate economist Matthew Gardner joins Agent Publishing Co-Publisher Anne Hartnett to unpack the biggest housing trends from the second quarter, plus the potential impact of a new Fed chair and the future of Fannie Mae and Freddie Mac.

The inventory of new homes for sale surged year over year, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.    

At the same time, the pace of existing-home sales declined from May’s level. 

Nationally, home sales rose 5.7% year over year and 1.3% month over month, RE/MAX said. 

New single-family home construction declined as builders continue to grapple with macroeconomic headwinds. 

Purchase applications slowed to their lowest level since May as economic worries dampened activity, the Mortgage Bankers Association said. 

Greater Seattle’s priciest home sales last month were waterfront properties on Lake Washington and Union Bay.

“The continued anticipation of inflation and concerns about increasing government debt suggests that mortgage interest rates are not likely to go down any time soon,” Stephen Bourassa said in a press release.

Staging a home in Seattle before listing could lead to a $44,000 return on investment, according to a new study from home decor company Level Frames.

Three of the 10 most expensive new listings in Seattle are located at undisclosed addresses.