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Housing Market Tracker: Inventory falls even lower

Housing Wire

The seasonal housing inventory bottom evaded us again last week as active listings fell and new listing inventory decreased. Here’s a quick rundown of the last week: Active inventory fell 5,383 last week, and new listing data is still trending at all-time lows in 2023.

Inventory 520
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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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TRACKING THE SINGLE HOUSEHOLD AND OTHER LIFESTYLE CHOICES

Will Springer Realtor

Designers are helping builders broaden options to create homes that consumers can afford – no easy task. Note: Average prices include all home sales – including ultra-luxury properties – and do not portray the housing market as accurately as median prices.) I expect sales will pick up this year.

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HOUSING ‘TRIFECT’ PUTTING SQUEEZE ON BUYERS

Will Springer Realtor

Some developers are delivering smaller homes in the form of four- and six-plex townhomes on a parcel of land that once featured a single-family house. Others are specializing in the design and construction of accessory dwelling units (ADUs) as detached backyard homes (also known as “ mother-in-laws ”). New price: $70M ($3978/sq.

Buyers 36
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Signs of Inflation Expand Well Beyond Housing Prices

Will Springer Realtor

housing markets. 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. The image was taken from a drone above The Parc, a condo in Belltown, where I am promoting one of my new listings.

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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. SEPTEMBER HOUSING UPDATE.

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IN DIRE NEED OF GENERATIONAL RESPONSE TO HOUSING SHORTFALL

Will Springer Realtor

>> Seattle home prices have skyrocketed 68% since May 2016, according to new data from the Case-Shiller Price Index. >> A full 28% of all Seattle home listings are priced at or above $1M, according to a report published on SeattleAgentMagazine.com. AUGUST HOUSING UPDATE. BY THE NUMBERS. >>