The Seattle area’s median single-family home price jumped from $285,000 to $698,600 over 10 years.

The median existing-home price for all housing types in August was $389,500, a 7.7% rise from the year before. 

The NAR’s Community Aid and Real Estate (CARE) Report shows that REALTOR® associations donated a median of $12,070 this past year, a 20% increase over 2020.

New-home construction posted a 12.2% month-over-month increase in August, thanks in large part to a significant jump in multifamily building.  

A continuing combination of increased interest rates, supply-chain disruptions and high home prices has sapped homebuilder sentiment every month this year. 

Mortgage applications declined 1.2% during the week ended Sept. 9, according to the Mortgage Bankers Association’s Weekly Mortgage Applications Survey. 

Modern homes are still the most popular interior design style, according to a new study from Confused.com, a financial services comparison website based in the U.K.

The modest 1% decline could indicate the current housing cycle is reaching a bottom as mortgage rates recede from their recent high, the National Association of REALTORS® said. 

The median price of a new home sold during the month was up 5.9%, however, according to figures from the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. 

Nationally, the median sales price slid 2.9% from June but rose 8.1% from July 2021, while closed transactions were down 16.6% on a monthly basis and 26.3% on a yearly one, RE/MAX said in its National Housing Report.

A recent decline in mortgage rates could return some purchasing power to buyers going forward, National Association of REALTORS® chief economist Lawrence Yun said. 

The pace of housing starts for both single-family and multifamily residences was down on a month over month basis, the U.S. Department of Housing and Urban Development reported. 

The NAHB/Wells Fargo Housing Market Index fell for the eighth straight month in August, as the key measure of builder confidence indicated a pessimistic outlook. 

Home prices were up 18.3% on a year-over-year basis and 0.6% month over month. Looking ahead, CoreLogic expects year-over-year appreciation to slow to 4.3% by June 2023. 

“Contract signings to buy a home will keep tumbling down as long as mortgage rates keep climbing, as has happened this year to date.” — National Association of Realtors chief economist Lawrence Yun  

At the same time, the inventory of new homes for sale rose 10.7%, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development reported.