Remove 2010 Remove Contracts Remove Housing Market Remove New Listings
article thumbnail

Existing-home sales have nowhere to go but up in 2024? 

Housing Wire

Elevated mortgage rates and high home prices pushed sales of existing homes down again in October to the lowest monthly pace since August 2010. Homes typically go under contract a month or two before the closing, which means the October data largely reflects purchase decisions made in August and September.

Inventory 377
article thumbnail

How much will home prices climb over the next year?

Housing Wire

The median price of the new listings this week is $399,900. As the summer progresses, each subsequent week of new listings gets priced at a slight discount to the previous weeks. The median price of the homes in contract is $385,000. There are now 376,000 single-family homes in contract.

Inventory 341
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Seattle Area Housing Market Remains Not for the Faint of Heart

Will Springer Realtor

The Seattle area housing market right now reads like a mystery novel with half the pages missing. 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. higher YoY.

article thumbnail

IS THE HOUSING MARKET HEADED FOR A CRASH?

Will Springer Realtor

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. Then the housing bubble burst. market during the pandemic – and there is great anticipation for strong demand. months (from 0.7)

article thumbnail

FED’S ACTIONS TAKE STEAM OUT OF HOUSING MARKET

Will Springer Realtor

Seriously though, there must be a ceiling to rising rates that have all but extinguished a robust housing market. housing market is experiencing a price “correction,” defined as a 10% price drop from its most recent peak. Our market cooled faster than any other in the nation, according to one report.

article thumbnail

Mostly Positive Start to 2024 Housing Activity in Seattle/King County

Will Springer Realtor

The Seattle/King County housing market appears to have come through the worst of times with a slightly stronger showing in January than in previous months. Annual sales across King County totaled 21,515 homes – down an incredible 24% from the year before and the fewest since 2010 (20,761). fewer (1842) than on Jan.

article thumbnail

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). on the Eastside.

Sellers 60