This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
The recent development of lower mortgage rates coupled with increasing inventory is a powerful combination that will provide the environment for sales to move higher in future months,” Lawrence Yun, chief economist for the National Association of Realtors® said in September. The number of Active listings is another eye-opener.
Home sales have been essentially stuck at around a four-million-unit pace for the past 12 months, but factors usually associated with higher home sales are developing,” said NAR Chief Economist Lawrence Yun. In 2010, when the newlistings data was exploding, over 23% of homes in America were underwater.
The season has been shaped by slumping newlistings, a slowly climbing number of homes sitting on the market from previous months, fewer closed sales compared to last year and prices moving plus/minus five percentage points year-on-year (YoY). monthly decline in available Seattle listings (793). The county saw a 4.9%
The Eastside led the way with a 33% drop-off in newlistings (420) and Seattle fell 31% (586). By comparison, there were exactly 2900 newlistings across our county in November 20 years ago. King County’s 1474 monthly home sales is the lowest for any November since 2010 (1331) – in the middle of the housing crisis.
fewer newlistings, the rate of sales rose 1.7% Two data points stood out from the latest report by the Northwest Multiple Listing Service: The aforementioned newlistings for all homes in the county – 2684 – is at a low not seen for an August since records were shared with brokers (like me) dating back to the mid-1990s.
First a look at September’s numbers: A wave of last-chance listings for the year hit the market after Labor Day. That increased newlistings by 7.5% (2884) and available homes on the market by 12% (3602) between Sept. Seattle alone saw a 29% (1213) monthly increase in newlistings. 1 and Oct. on the year.
In a special election last week, voters appear to have approved Proposition 1A to help fund the citys new Social Housing Developer. City leaders, the chamber of commerce and many big businesses supported this funding method.You can read more on this developing story in The Seattle Times (paywall) and The Urbanist.
The national median family income rose just 4% from 2019 to 2020, according to the Department of Housing and Urban Development, while most home prices are jumping each year by 10% or more. The image was taken from a drone above The Parc, a condo in Belltown, where I am promoting one of my newlistings. housing markets.
Sales activity across the county is at historic lows; no October has experienced fewer listings in King County – not even close – since at least 1992 when records were first archived online. Newlistings for all home types in King County stood at 2157, a whopping 25% drop from September to October. Closed sales fell 0.9%
The first successful zoning laws were established in 1916 to determine building heights in New York City, soon followed by the zoning of residential and business districts. The effort was led by lawyer Edward Bassett, who went on to develop freeways and parkways. Seattle alone saw a 29% (1213) monthly increase in newlistings.
While these are promising developments, there will always be the affordability question. >> The Puget Sound region suffered from a severe lack of new construction in the decade ending in 2020, according to U.S. Kitsap County had the fewest number of units built per household formed between 2010 and 2020 (0.55).
The House version, HB 1782 , is backed by developer and Realtor® lobbyists, Habitat for Humanity and environmental groups, according to The Seattle Times. between 2010 and 2020 to edge out Denver (22.9%) and Portland, Ore.-Vancouver, CONDO NEWS. The aim is to generate more multi-family housing, from duplexes to fourplexes.
Waller went on to say this adjustment is in no way like the horrific housing/financial crises of 2007-2010. People love experiences to fill their memory bank and social media feed – and real estate developers are listening. Counties in and near Chicago and New York City were seen as the most vulnerable to today’s economic headwinds.
The narrow area known as Westlake, just west of Lake Union (and, notably, close to Facebook, Google and Amazon offices), has seen the number of people aged 25-34 double from 2010 to 2019 and now comprise 52% of its residents. Apple opened its doors in April to a new building on Dexter Avenue North, site of the former KING-TV studios.
The rate today is the same as in the late 1960s, except during the housing bubble of 2008-2010 when ownership rose – and we know how that ended up! Lissak, who I spoke to in 2019 for a blog post on this topic, says both parties should have their own attorney jointly develop a binding exit strategy before buying the home.
Memories of the Great Recession still linger for anyone linked to the real estate industry – including the estimated seven million households that lost their homes to foreclosures around 2008-2010. One aspect of rising housing prices is ballooning materials costs for new home builders. Then the housing bubble burst. months (from 0.7)
And, Seattle’s attempt to force building developers to incorporate more affordable homes within their new residential endeavors yielded only 21 units in 2020 out of a swell of 224 construction projects. About 57% of all new housing was classified multifamily (four or more units in one location). AUGUST HOUSING UPDATE.
To address the issue, Dr. Vivek Murthy developed six pillars that spotlight a need for social connectedness. SPOTTING TRENDS Builders are hearing from prospective buyers: Developers are being asked to create stylish and functional homes with little compromise on size and at lower prices. In fact, the U.S. THE YEAR OF HOUSING 2.0
We organize all of the trending information in your field so you don't have to. Join 9,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content