By the Numbers
The NAHB/Wells Fargo Housing Market Index slid a point to 32, reflecting ongoing negative sentiment in the homebuilding industry.
Compass agents handled both the buyer and seller sides of the Seattle area’s most expensive residential real estate transaction last month.
Windermere Real Estate Principal Economist Jeff Tucker shared his Seattle market insights for July — including his take that buyers are gaining leverage over sellers.
NAR’s report — which surveyed nearly 5,000 Realtor members — also found that the typical agent took on 10 transactions in 2024, the same as a year prior.
Home-purchase activity remained elevated from 2024, but a cloudy economic outlook has deterred some would-be homebuyers.
A $75 million estate on Lake Washington tops this month’s list of the 10 most expensive new listings in Seattle.
Geographically, the only region to post a monthly increase in pending sales was the Northeast, where they rose 2.1%, according to NAR’s Pending Home Sales Index.
Nationally, the pace of home-price appreciation declined to its slowest pace in almost two years, according to the S&P CoreLogic Case-Shiller U.S. National Home Price Index.
The inventory of new homes for sale surged year over year, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.
At the same time, the pace of existing-home sales declined from May’s level.
Nationally, home sales rose 5.7% year over year and 1.3% month over month, RE/MAX said.
New single-family home construction declined as builders continue to grapple with macroeconomic headwinds.
Purchase applications slowed to their lowest level since May as economic worries dampened activity, the Mortgage Bankers Association said.
Greater Seattle’s priciest home sales last month were waterfront properties on Lake Washington and Union Bay.
Three of the 10 most expensive new listings in Seattle are located at undisclosed addresses.
May’s 1.8% monthly gain follows a 6.3% drop in April, the National Association of REALTORS® said.