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

Will Springer Realtor

Now that the Federal Reserve has cut interest rates, home buyers should swarm the market with low-interest mortgages …. Consumers considering a change of address are holding out amid forecasts for lower mortgage interest rates in 2025. After the Fed rate cut, mortgage applications jumped 9% in a week. Hold on, there!

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Will Springer Realtor - Untitled Article

Will Springer Realtor

This trend has doubled since 2019, with built-to-rent homes making up 10% of new construction (8% in the PNW). Both major political parties offer solutions focusing on increasing housing construction. The Washington State Housing Finance Commission backs two important mortgage programs for lower-income households.

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WEIGHING SEATTLE’S FUTURE WITH FEWER OFFICES

Will Springer Realtor

Louis Sullivan, the so-called father of high-rise construction design, once said: “The skyscraper establishes the block, the block creates the street, and the street offers itself as a riverbed to the stream of life that flows through the city.” The typical homeowner in our area is enjoying a mortgage rate of 3.7%

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Expectations for 2025 in Seattle/King County Real Estate

Will Springer Realtor

With mortgage rates set to edge downward, home prices expected to rise only modestly, and sales ticking up bit by bit, the stage is set for a measured recovery in our region. home sales slumped for the second straight year, averaging 3.96M units transacted (excluding new construction) on a 12-month basis through October, up 2.9%

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Divergent paths: Housing market policies under a Trump or Harris administration

Housing Wire

Overall, they believe that Donald Trump and Kamala Harris — the presumptive nominee after President Joe Biden dropped out of the race — have the same correct diagnosis of the main issues affecting today’s housing market: high mortgage rates and a low supply of listings.