There may be a construction boom, but builders still have a lot of ground to make up from a decade of underbuilding, according to a new report from Zillow. Builder efforts are hampered by continued supply chain disruptions and

While real estate markets across the country slowed down in November around Thanksgiving, such was not the case for Washington, where buyers and sellers were unusually active. Based on the latest report from the Northwest Multiple Listing Service (MLS), numbers for new listings, pending sales and closed sales were comparable to year-ago totals, while prices rose just over 15%.

With home prices continuing to reach new heights  across the country, many potential homebuyers are seeing the mobile-home market in a brand new light as single-family home prices become less affordable for young and middle-class buyers. 

As more money is being spent on real estate than ever before, the booming market is on pace to shatter records this year, according to a recent CoreLogic report.

The Federal Housing Finance Agency (FHFA) recently announced its 2022 conforming loan limits (CLL) for conventional loans acquired by Fannie Mae and Freddie Mac.

“Despite higher mortgage rates, purchase applications had a strong week, mostly driven by a 6% increase in conventional loan applications.” — MBA associate vice president of economic and industry forecasting Joel Kan

Prices of Seattle waterfront homes are steadily rising, particularly in King County, where waterfront property has been historically expensive. 

Nationally, investors bought a record 18% of homes sold in the third quarter of this year, and they are increasingly turning to single-family homes, according to Redfin. 

Nearly 80% of Seattle King County REALTORS®’’ (SKCR) endorsed candidates won during King County’s general election in November, according to a press release. 

Home prices in Seattle saw little change from August to September, an indication of a seasonal slowdown in the local market. Earlier this year, Seattle-area home prices saw month-to-month increases between 3-5%, according to the latest S&P CoreLogic Case-Shiller Home Price Index. 

“If I had to choose only one word to describe September 2021’s housing price data, the word would be ‘deceleration. Housing prices continued to show remarkable strength in September, though the pace of price increases declined slightly.” — S&P DJI managing director Craig Lazzara.

While the housing market may be hotter than usual, the shift toward seasonal norms is starting to show and could benefit both buyers and renters. 

“Motivated by fast-rising rents and the anticipated increase in mortgage rates, consumers that are on strong financial footing are signing contracts to purchase a home sooner rather than later.” — NAR chief economist Lawrence Yun

The demand for housing in the U.S. has reached a new all-time high since 2017, a rare occurrence for this time of year when the market typically slows. According to a Redfin report, a recovering economy and all-time low mortgage rates are critical factors in the current market. 

As the economy recovers from COVID and the housing market gains traction, homeownership is top of mind for Americans, according to the latest survey from Coldwell Banker Real Estate LLC.

The seasonally adjusted estimate of new houses for sale at the end of September was 389,000, representing a supply of 6.3 months at the current sales rate, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development reported.