The National Association of REALTORS’® Pending Home Sales Index rose 6.9% in March, compared to economists’ expectations of a smaller 1% gain.

Many of the priciest new listings this month are waterfront properties, including a $5.7 million home floating in Lake Union and a $4.3 million condo houseboat at Roanoke Reef.

The pace of sales rose 7.4% compared to February, topping analyst estimates by a large margin.

Given the city’s median annual household income of $208,630 for married couples, they have to spend 52% of their yearly earnings on mortgage payments, property taxes, insurance and other related costs.

The surprisingly large decline in the pace of housing starts comes as builder sentiment remains depressed by tariff worries and high prices. 

The Seattle suburbs are home to all 10 of the most expensive properties sold last month, led by a $13.1 million estate on Mercer Island.

“Each interaction indicates buyer interest in that home, and listings with higher engagement levels tend to sell faster and at or above the list price,” Zillow Senior Economist Kara Ng explained.

Meanwhile, purchase applications showed their strongest increase in almost two months, rising 7% year over year.

The National Association of REALTORS’® Pending Home Sales Index rose 2% month over month in February, topping an expected 0.9% gain. 

Nationally, home sales were down 2.6% year over year and up 8.4% month over month, RE/MAX said. 

Several condominium penthouses are among the 10 most expensive properties listed in Seattle last month.

The Emerald City is a perfect match for homeowners looking to downsize in their golden years, according to research from Mirador Living.

The median existing-home price was also on the upswing last month, providing homeowners a bit of refuge as the stock market undergoes a correction, Chief Economist Lawrence Yun said in the monthly report. 

The pace of new-home construction was higher than economists expected, even as homebuilders expressed concern about the impact of tariffs and supply-side challenges. 

A $10.5 million transaction tops the list of the most expensive homes sales in the greater Seattle area last month.

Falling consumer sentiment suggests potential homebuyers are wary of the short-term economic outlook and future inflation, CoreLogic Chief Economist Selma Hepp said.