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HOUSING ‘TRIFECT’ PUTTING SQUEEZE ON BUYERS

Will Springer Realtor

also the oldest age of a first-timer ever recorded by the National Association of Realtors® (NAR). The City of Renton reported in June that 92% of the 7800 new units in the permitting pipeline are expected to be market-rate rentals. Bellevue has an average hourly wage for developers of $74.85. leading the list. >>

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Signs of Inflation Expand Well Beyond Housing Prices

Will Springer Realtor

home was $313,000 through February, a sharp 16% higher from a year ago, according to the National Association of Realtors® (NAR). 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. housing markets.

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HINTS OF SHARP INCREASE IN NEW CONSTRUCTION

Will Springer Realtor

It is developing several single-family and multifamily communities in King and Snohomish counties. The company forecasts an 8% YoY increase in new communities for 2021 across the U.S. ” Forward-thinking developers will go beyond trails and lap pools, “which have become ordinary,” suggests the experts from Burns.

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RISING INFLATION, RATES TRIP UP HOUSING MARKET

Will Springer Realtor

The median income for Millennials who are actively buying or intend to buy a home soon is about $82K, according to the National Association of Realtors® (NAR). That’s according to Census Bureau data averaged out over the five years between 2016 and 2020 and reported by The Seattle Times. in our region.

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FINDING THE KEY TO UNLOCK ‘STUCK’ HOMEOWNERSHIP RATE

Will Springer Realtor

Well, I am only a single real estate professional with one opinion but, for me, the solution includes enacting a blend of corporate and federal dollars toward incentivizing the development of affordable for-purchase housing that targets under-served communities whose residents would otherwise find homeownership difficult to achieve.

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IN DIRE NEED OF GENERATIONAL RESPONSE TO HOUSING SHORTFALL

Will Springer Realtor

“There is a strong desire for homeownership across this country, but the lack of supply is preventing too many Americans from achieving that dream,” said Lawrence Yun, chief economist for the National Association of Realtors® (NAR). A surprising 3% used the time to build a new house. BY THE NUMBERS. >> million home sales.