With the spring housing market just around the corner, homebuyers are getting more for their money as their mortgage payments are stretching further than they have in recent months.

Forty-eight percent of mortgaged homes were equity rich in the fourth quarter of last year.

The 30-year fixed rate fell for the fifth week in a row, giving a lift to lending activity, the Mortgage Bankers Association said. 

Pending sales in the Northwest MLS reached the highest level since October, according to January Northwest MLS report.

Multigenerational homes are defined by NAR as homes where families live under the same roof with grandparents, adult children or other extended family members.

Average home values in Skykomish have more than doubled from five years ago.

Homebuyers can now afford $400,000 homes with $2,500 monthly budgets for the first time in four months, according to a new report from Redfin.

Homebuyers are returning, but sellers still aren’t filling the need as inventory remains low.

Homebuyer demand is rising, as mortgage applications rose 28% since November, and more prospective buyers are scheduling home tours.

The median sales price of a new home was down on a monthly basis but up on an annual one. 

The median home price in the Northwest MLS increased for the 10th consecutive year in 2022, the service’s annual review shows.

Seattle’s increased housing inventory in 2022 was the second-highest among major cities, the RE/MAX National Housing Report showed.

House prices, however, continued to rise, marking the 130th consecutive month for price gains, the longest streak on record, the National Association of REALTORS® said.   

More buyers have entered the market in the past four weeks as mortgage rates fell.

The increase in builder confidence breaks a string of 12 straight monthly declines in the NAHB/Wells Fargo Housing Market Index. 

Redfin attributes the drop to the record high mortgage rates, recession concerns, record low inventory, extreme winter weather and the holiday slowdown.