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. 

The pace of home-price appreciation slowed to its most modest pace since 2023, according to the S&P CoreLogic Case-Shiller U.S. National Home Price Index. 

The median-sales price for an existing home rose 1.3% year over year to $422,800. 

Nationally, home sales slid 3.5% year over year but rose 8.6% month over month, RE/MAX said. 

Homebuilder sentiment recently reached its third-lowest level since 2012. 

The Puget Sound area’s most expensive home sales last month were located in Clyde Hill, Bellevue and Washington Park.

The Mortgage Bankers Association said the post-Memorial Day increase came despite economic uncertainty and largely static interest rates. 

The Northeast and Midwest remained strong, while Florida, which saw a major runup in prices in recent years, continued to cool. 

Potential buyers of the second- and third-most expensive new listings in Seattle would be neighbors, living on the same waterfront street.

The 6.3% month-over-month decline was the steepest the U.S. market has seen since September 2022. 

In Seattle, home prices jumped 4.15% year over year and 1.78% month over month in March. 

Nationally, home sales slid 1.4% year over year but increased 11.3% month over month, RE/MAX said. 

A $12.5 million home on Hunts Point tops the list of the most expensive Seattle-area home sales last month.