Current Market Data

High housing costs dampen homebuyer demand

Those looking to buy a house will be paying a premium as inventory continues to be an issue.

One in five millennials think they’ll never own a home

Eighteen percent of millennials — approximately one in five — believe they will never become a homeowner, according to a recent survey from Redfin.

One-third of Seattle homes are worth $1 million or more

That’s significantly higher than than the national average — only one in 10 U.S. homes are valued that high.

NAR: Pending-home sales post second monthly increase in a row 

Pending transactions were in negative territory for most of this year, so the recent increases could bode well for future activity. 

Case-Shiller: Home-price index just 0.02% off 2022 peak; Seattle sees 0.9% decline 

A fifth consecutive month of increases in the S&P CoreLogic Case-Shiller U.S. National Home Price Index suggests the housing market recovery that began earlier this year is likely to continue. 

‘Collapse’ of housing inventory drives price rebound 

Two weeks after housing inventory turned negative, home prices posted a healthy increase, MarketNsight said. 

Half of all buyers are first-timers in 2023

First-timers made up 45% of buyers in 2022 and 37% in 2021.

NAR: Existing-home sales decline as median price remains above $400,000 

High mortgage rates and limited inventory continued to weigh on sales activity, National Association of REALTORS®Chief Economist Lawrence Yun said. 

The 10 most expensive new listings in Seattle

Agents from Windermere Real Estate and Realogics Sotheby’s International Realty were responsible for a majority of the most expensive new listings from the past month.

Over 115,000 apartments in Seattle’s construction pipeline

Over 115,000 apartments could join the Seattle housing market, according to the Q2 2023 Construction Pipeline report from Berkadia.

Housing starts rebound in July after June slump 

Single-family home permits and completions, meanwhile, also rose, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. 

Monthly mortgage payments up nearly 20% from 2022

Meanwhile, July’s home sale prices had their highest increase since November.

How brokers are finding client solutions despite market downturn

Decelerated sales in July also contributed to an increase in the overall housing supply. Inventory grew to 1.76 months, up from 1.55 months in June.

Trading rent for a mortgage doesn’t equal more space in Seattle

A new report from Point2Homes illustrates just how much living space a person must give up to make the switch from renting to owning while maintaining the same housing budget.

The state of ultra-luxury sales in Greater Seattle

Seattle emerged as one of the top ultra-luxury markets in the first half of 2023, according to the Mid-Year Ultra-Luxury report from Compass.

Median rent dips in Seattle

From June to July, the median monthly rent for a one-bedroom apartment fell 2.3% to $1,905 in Seattle.

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