John L. Scott has reached a settlement agreement in the ongoing buyer-agent commission lawsuit, Gibson/Umpa. It is one of two independent brokerages to settle in the case this week, the other being the Michigan-based Real Estate One.

Seabrook, a planned community near Pacific Beach, has announced a strategic sales partnership with Windermere Real Estate. This means that, as Seabrook grows, Windermere will represent all new construction and developments.

The Seattle Office of Housing is funding up to $3 million toward creating 21 affordable homes at a site previously used by the utility company Seattle City Light, in Highland Park.

The Seattle area had the third-largest home-price spike in the country during August, according to RE/MAX’s latest National Housing Report. The market’s median price — $745,000 — is now the fourth-highest in the United States.

At a time of year when the real estate market typically experiences seasonal declines, this fall is bringing just the opposite.

Seattle is the No. 3 alternative relocation destination in the U.S., according to a new study by Remitly. Vancouver is No. 1 in the world.

Rate introduced its Spanish-language mortgage process in 2022.

Specifically, prices rose 4.3% annually after growing by 4.7% in June. 

With mortgage rates at their lowest level since March 2023 — 6.35% as of Aug. 29 — the Seattle area showed increases in active listings, new listings and pending sales during August, according to the NWMLS’ monthly Market Snapshot.

Greater Seattle’s median home price has increased 8.6% from last year.

Although transaction volume is low, the rental market is “beginning to show more signs of life,” according to new research from Kidder Matthews’ multi-family team, which cited increased liquidity.

Housing inventory reached its highest level since the pandemic in July, according to Realtor.com’s July Monthly Housing Markets Trends Report. 

Seattle ranked No. 12 among major metro areas, with more than 12,800 apartments expected to be completed in 2024. 

Home sales rose 5.9% year over year across the Northwest region in July, with 6,615 total sales. Meanwhile, inventory increased 37.7%, with 15,122 total active listings that month, according to the monthly Market Snapshot from NWMLS.

The lawsuit criticizes NAR’s new rules in the wake of its legal settlement.

There are some nuances in NAR’s new rules that are important to know for buyer’s brokers, seller’s brokers or their clients.