Listing Spark

SEPTEMBER 25, 2023

Fewer New Listings The number of new listings hitting the markets has continued to fall, mainly because a substantial segment of the market that was both buying and selling has essentially disappeared. The Rise of New Construction Homes New construction is stepping up to fill the void in the market.

Real Estate 69

Real Estate Sellers New Listings Inventory 69

Will Springer Realtor

SEPTEMBER 12, 2023

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.

Finance 68

Finance Inventory Construction Buyers 68

Housing Wire

JANUARY 5, 2023

Going back to 2013, I have stressed that my affordability index gets tripped up if mortgage rates get above 5.875% , and wrote about this in 2019 as we were about to enter my critical period of 2020-2024. Since 2019, the critical factor for my economic work has been the 10-year yield breaking 1.94%. million in 2023. million for 2023.

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Housing Market Marketing Inventory New Listings 537

Will Springer Realtor

JUNE 13, 2023

It’s true, there is a welcome increase in new listings from month to month – up 18% across all home types in King from April and 19% higher for the single-family-home category – but isn’t that what you would expect in the typically busiest periods of the housing season? In March, 33% of homes listed for sale in the U.S.

Buyers 36

Buyers Inventory Construction Finance 36

Will Springer Realtor

JULY 11, 2023

The county saw the combined number of single-family, townhome and condo listings increase in June by 4.4% While that percentage may appear strong, it’s nothing compared to the April-to-May rise of 18%, signaling a probable cooling of new listings in the future. New single-family-home listings rose 3.8%

Housing Market 36

Housing Market Buyers Inventory Real Estate 36

Will Springer Realtor

MARCH 14, 2023

The number of new listings of all home types (single-family, townhome and condo) in King County climbed 6.4% (1866 units) from January to February, as expected, and total inventory at the start of March (2064) was 111% higher than a year ago. Still, home appreciation remains solidly higher between 2019 and today, at least out West.

Marketing 36

Marketing Buyers Inventory Sellers 36

Housing Wire

FEBRUARY 24, 2023

months of the supply is active listings, 68K 5 months of the supply is still under construction, 280K 1.6 When we look at active listings today, we are still at 980,000, near all-time lows, even with the recent massive hit to demand. To get more inventory you need more Americans to list their homes. When supply is 4.3

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Inventory Construction Housing Market Mortgage 439

Listing Spark

JANUARY 12, 2023

2022 Market Trends: Decrease in sales, values, and new listings in Austin, TX; median home value up 9.9% New Construction: Slowing down due to an increase in inventory and a declining market; builders targeting first-time home buyers. Episode Highlights. in Dallas year over year; closed sales down 30.4%

Real Estate 36

Real Estate Marketing Home Value Inventory 36

Will Springer Realtor

JULY 13, 2023

urban centers remain mostly higher than in 2019. The national office vacancy rate stands at 16% through March , up from 11% at the end of 2019 – just before life changed for you, me and the world. We certainly see that in all forms of residential real estate – from new construction to finding items for the home.

Construction 36

Construction Supply Chain Real Estate Development 36

Will Springer Realtor

AUGUST 9, 2021

Housing affordability decreased in 45 of the 50 states from 2012 to 2019. Washington state now (right) has less than 45% of all households able to afford the median priced home (as of 2019, when the state’s median figure was more than $100,000 less than today). A surprising 3% used the time to build a new house.

Construction 36

Construction Inventory Property Taxes Development 36

Will Springer Realtor

JUNE 8, 2022

The pandemic has made attaining ownership more difficult, particularly in housing-starved Seattle (pictured) and across King County where the number of homes on the market (Active listings) has trended lower for most of the past decade-plus. With scarcity comes price appreciation. What is the answer? What happens then? BY THE NUMBERS. >>

Design 36

Design Construction Development Property Taxes 36

Will Springer Realtor

MAY 13, 2024

Builders are trying to catch up and, according to federal officials , there are more housing units under construction today than at any time in the last 50 years. An annual survey released this month by the Federal Reserve Bank of New York said renters put the probability of ever owning a home at 40%, down from 44% last year.

HOA 36

HOA Transportation Construction Buyers 36

Housing Wire

JULY 20, 2021

This has dampened new home sales and quickened home-price growth.” ” Mark Palim, deputy chief economist at Fannie Mae , said anecdotal reports of builders delaying or turning down orders to clear a growing construction backlog appears to be borne out by the recent housing starts data. percent,” Palim said Tuesday.

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Housing Market Marketing Inventory Construction 493

Will Springer Realtor

AUGUST 11, 2023

Others are specializing in the design and construction of accessory dwelling units (ADUs) as detached backyard homes (also known as “ mother-in-laws ”). The national trend for new construction, however, is generally moving in the opposite direction. In the 1990s, one-third of new homes were smaller than 1800 sq.

Buyers 36

Buyers Development Construction New Listings 36

Housing Wire

JUNE 16, 2021

If the fed were to tighten policy, Fannie Mae’s ESR Group expects this to drag on upcoming housing market growth and even stifle home sales, house prices, construction and mortgage originations. million – an expected result of a market scrambling to get new builds up. Existing home sales pulled back in April by 2.7%

Housing Market 488

Housing Market Development New Listings Marketing 488

Will Springer Realtor

JUNE 9, 2021

Some smaller construction companies are heavily burdened by rising costs for everything from lumber and steel to fuel and labor amid a lack of available employees. million people work in residential construction, or about 2.8% The average King County single-family listing sold in May 9.5% CONDO NEWS. >> About 4.4

Housing Market 36

Housing Market Marketing Inventory New Listings 36

Will Springer Realtor

APRIL 8, 2021

were putting down $24,500 in the most recent survey, up a whopping 82% from Q4 2019 ($13,441). 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. million new homes as of the start of this year.

Inventory 36

Inventory New Listings HOA Buyers 36

Will Springer Realtor

OCTOBER 11, 2023

Suburban residents can be almost assured of the peaceful enjoyment of their home without worrying about a neighbor constructing a rollercoaster or baseball stadium next door. >> A full 19,396 apartment units are under construction in Seattle metro, according to a Q2 report from Berkadia, a U.S. . = Zoning laws in the U.S.

Law 36

Law Development Design Government 36

Will Springer Realtor

FEBRUARY 14, 2023

The number of Pending sales soared 51% since December for all home types in King County to 1820 listings under contract, including a 69% boost on the Eastside (480) and a 47% jump in Seattle (610). Another positive sign: The number of new listings surged from the previous month. has soared to $88,300 as of late 2022.

Housing Market 36

Housing Market Marketing Inventory Buyers 36

Listing Spark

MARCH 9, 2023

2023 January Data: Median Sales Price: $450,000 (Down 6%) In certain pockets & price points, we are seeing declines in values over 15% Active listings: 7,323 (Up 462%) Closed sales: 1,634 (Down 27%) Average Days on Market: 76 (up 47 days from Jan 22) New listings: 2,988 (Up 16% YOY) Up 63.4% Average price : rose 1.5%

Real Estate 36

Real Estate Marketing Inventory Sellers 36

Will Springer Realtor

MAY 9, 2022

just as Google opens another office building in Kirkland and Microsoft expands its 120-structure Redmond campus with plans for 17 new office buildings. All this tech construction gives new meaning to IT architecture! “A BY THE NUMBERS. >> The average size of a newly constructed single-family home is now 2524 sq.

Architecture 36

Architecture Design Buyers Construction 36

Will Springer Realtor

OCTOBER 8, 2021

Construction could start as soon as 2022 on an ambitious three-tower project known as Cloudvue. The Knight Frank survey covered 49 global markets. >> Seattle is on pace to have one of the slowest annual growths in apartment-unit construction in the U.S. New listings are up 6.3% 1 vs. Sept. Median condo prices were up 1.9%

Real Estate 36

Real Estate Buyers Inventory Housing Market 36

Will Springer Realtor

SEPTEMBER 12, 2023

A concrete and steel cover connecting First Hill to downtown, for example, would reduce traffic noise, potentially add more parkland and encourage construction of new housing. The few homes that are available are selling quickly and at or above list price.” fewer new listings, the number of sales rose 1.7%

Sellers 36

Sellers Development Retail Real Estate 36

Will Springer Realtor

JULY 9, 2021

increase in single-family permits over 2019. >> The one bright spot: King County saw more homes listed in June (4801) than in any month since May 2019, and the number of active listings by month’s end improved to a level not seen since last November – but supply is still below seasonal norms. below the $7.2M

Buyers 36

Buyers Development Transportation Inventory 36

Will Springer Realtor

MAY 12, 2021

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. Now, home builders would need to construct as many as 1.2 million more home listings across the U.S.

Real Estate 36

Real Estate Inventory Buyers Construction 36

Housing Wire

OCTOBER 20, 2020

above the September 2019 rate of 1.274 million, the Bureau said. “The housing market is being constrained by the lack of inventory, with both new and existing homes being sold faster than new listings are arriving.”. above the September 2019 rate of 1.437 million. “While starts were up 10.4%

Construction 479

Construction New Listings Housing Market Inventory 479

Housing Wire

MARCH 16, 2021

A December report from Homesnap showed total new listings increased.22% 22% from 2019, while total sales increased 19.29% – an imbalance that has depleted housing stock. Even prior to the pandemic , housing inventory had hit record lows, and the problem has intensified as demand continues to rise.

Inventory 283

Inventory New Listings Mortgage Buyers 283