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Housing Market Tracker: Mortgage rates and inventory fall together

Housing Wire

The financial and housing markets are still trying to sort out the banking crisis and whether we have seen the last Fed rate hike in this cycle. Active inventory fell 1,109, and new listing data made a lovely comeback week to week but was still noticeably down year over year. In a regular market, they would be closer to 5.25%.

Inventory 434
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Will existing home sales climb at all this year?

Housing Wire

Pending Sales There are now 378,000 single-family homes in contract. There were 68,000 new contracts for single-family homes this week. In the chart below, the light portion of each bar represents the new contracts each week. But, there were another 15,000 condos and townhomes that went into contract this week.

Inventory 285
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Shrinking Number of New Listings Slows Seattle/King County Housing Activity

Will Springer Realtor

How’s the market, you ask? The typical seasonal spring in its step has been replaced by a slow shuffle as the Seattle/King County residential market tries to find its rhythm in a challenging economic environment. Falling new inventory is constraining transaction volumes while also supporting higher home prices.

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RISING INFLATION, RATES TRIP UP HOUSING MARKET

Will Springer Realtor

The screeching you heard in June was the sound of brakes being applied to the housing market across the U.S. The King County housing market has seen inventory increase by 55% in the past month, while the number of homes going under contract fell 22% from May to the lowest June level since 2011. Not really sure.”.

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September 2021 Housing Report

Lamacchia Realty

These factors, when compared year over year, are all indicators for predicting future trends in the market. Highlights: Sales are down and prices are up, signifying that the market has shifted into more of a buyer’s market, making this the best Fall to buy in two years. Homes Listed For Sale: There were 6.8% No Comments.

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FINDING THE KEY TO UNLOCK ‘STUCK’ HOMEOWNERSHIP RATE

Will Springer Realtor

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. Snohomish County’s Active listings more than doubled – to 1182 – from 500 from a year ago.

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HINTS OF SHARP INCREASE IN NEW CONSTRUCTION

Will Springer Realtor

One of the hottest search phrases on Google today is, “When is the housing market going to crash?”. Not “ Will the housing market crash?” We shared in a previous newsletter the many factors driving our buoyant housing market – and there is no end in sight to home appreciation. Active listings as of Sept. but “When.”.