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Expanding Supply, Easing Prices Bring Relief to King County Housing Market

Will Springer Realtor

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.

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Why are home prices rising with higher mortgage rates?

Housing Wire

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 new listings data was exploding, over 23% of homes in America were underwater.

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King County Home Buyers and Sellers in ‘Re-Evaluation’ Mode

Will Springer Realtor

The season has been shaped by slumping new listings, 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%

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Seattle Area Housing Market Remains Not for the Faint of Heart

Will Springer Realtor

The Eastside led the way with a 33% drop-off in new listings (420) and Seattle fell 31% (586). By comparison, there were exactly 2900 new listings 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.

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High Financing Hurdles Lead to Low Housing Activity in Seattle/King County

Will Springer Realtor

fewer new listings, the rate of sales rose 1.7% Two data points stood out from the latest report by the Northwest Multiple Listing Service: The aforementioned new listings 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.

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King County Home Sales Cool as Interest Rates Inch Toward 8%

Will Springer Realtor

First a look at September’s numbers: A wave of last-chance listings for the year hit the market after Labor Day. That increased new listings by 7.5% (2884) and available homes on the market by 12% (3602) between Sept. Seattle alone saw a 29% (1213) monthly increase in new listings. 1 and Oct. on the year.

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Will Springer Realtor - Untitled Article

Will Springer Realtor

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.