By the Numbers

Single-family home construction slows for second month in a row as apartment starts jump 

“Builders are responding to higher mortgage rates and are chasing rising rents, with fewer homebuyers and more renters being forced to renew their leases.” — NAR Chief Economist Lawrence Yun 

NAHB: Builder confidence plunges in May on affordability concerns 

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. 

Washington scores well on ranking of best states for taxes

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.

Can $150,000 buy a home in Seattle? 

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

Mortgage applications rise for second week despite historically high rates 

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. 

Smaller markets lead the way in Q1 home-price gains; Seattle sees 14.2% rise

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. 

Mortgage applications fall as rates hit 13-year high 

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

Home prices climb nationally and in Seattle, which ranks No. 7 for annual percentage growth

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

New-home sales fall again in March 

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

NAR data shows another dip in existing-home sales 

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. 

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