Sellers keep winning, while the pandemic and a strong economy are redefining long-held notions about metro Seattle’s real estate market.

Home-price growth remained in double digits for the 10th straight month in May as inventory lows pushed the median listing prices up 15.2% from last year.

Year over year, however, pending home sales were up 57.1%, the NAR said, citing its monthly Pending Home Sales Index.

First-time homebuyers found their long-term plans changed due to COVID.

The median sales price of new homes sold in April was $372,400, up from $334,200 in March and $310,100 a year ago. 

Housing records continue to be broken, but despite the strong numbers, data could indicate homebuyer demand is reaching a peak.

Higher income, backed up by lower mortgage rates, has expanded the reach of the average homebuyer, but an increased demand for homes has concurrently driven up prices, negating two of the three main factors in First American Financial Corp.’s Real House Price Index.  

The limited inventory that has plagued the housing market continued, although at an abated pace.

The most expensive markets continued to experience double-digit growth in the first quarter, including Seattle.

Residential property equity continued to grow in the first quarter of 2021, with one in three homes considered equity rich.

These included 79% of the offers in Seattle, a bump from the 74.8% rate this past March and a leap from the 50% rate in April 2020.

Builder confidence was steady in May, carrying over April’s reading of 83 for another month, according to the most recent National Association of Home Builders/Wells Fargo Housing Market Index.

Americans believe it’s a much better time to sell a home than to buy one, according to Fannie Mae’s latest survey of home purchase sentiment.

Whether they’re still weary of going to a gym full of people or just looking to work off those extra pandemic pounds in privacy, homebuyers are increasingly prioritizing home exercise rooms.

Last month’s uptick in new listings is sure to be a welcome sign for Seattle homebuyers — and their battle-weary real estate agents. But April housing statistics released by Northwest Multiple Listing Service (MLS) show that sellers still won’t see their homes remain on the market for very long.

The number of buyers who locked in mortgage rates for second homes spiked to 178% year over year in April, according to a report from Redfin.