The release of the monthly survey from the National Association of Home Builders comes as the Biden Administration unveiled a housing-supply action plan that aims to boost the supply of affordable apartments and new homes. 

The Tax Foundation’s ​​2022 State Business Tax Climate Index ranked Washington 15th on its list. Wyoming was No. 1 and New Jersey was last.

Despite the drop in demand, homes are selling faster than ever.

The data illustrates the struggle for first-time homebuyers trying to get a foot in the housing door in the country’s largest markets.

Despite a slow start to the spring homebuying season, prospective buyers are showing some resiliency in the face of higher mortgage rates, as seen by two weeks in a row of increasing loan applications. 

Homes are selling at record-breaking speed.

NWMLS brokers added more listings in April than any month since July, and inventory improved in pockets of the Seattle housing market.

Seventy percent of the 185 metros surveyed by the National Association of REALTORS® saw double-digit price gains in the first quarter, compared to 66% in the preceding period. 

Overall mortgage-application volume was at its lowest level since 2018, the Mortgage Bankers Association said.

Home prices nationwide continued to climb higher in February compared to 12 months ago, according to the S&P CoreLogic Case-Shiller Indices.

Low inventory and rising interest rates have reduced prospective homebuyer purchasing power. 

Property taxes across the U.S rose last year, but the hike was much lower than in 2020, according to a new report.  ATTOM found in its 2021 property tax analysis of almost 87 million single-family homes, $328 billion in

The report uses 13 data sources and reader feedback to measure states on cost of living, quality of life, health care and other categories.

RE/MAX report says the average home in the Seattle metro area sells in just 12 days, the second-fastest in the U.S. behind only Nashville.

The study suggests that the best work-from-home conditions include low costs, reasonable comfort and a high level of security.

Rising interest rates and home prices have taken a toll on would-be homebuyers’ purchasing power, leading to increased inventory and another monthly slowdown in sales.