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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 538
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IS THE REAL ESTATE WINDOW CLOSING SHUT?

Will Springer Realtor

To be sure, the market is still leaning heavily in the sellers’ favor and listings are slimmer than a strand of spaghetti. on an average of 16 sales a month, according to the Northwest Multiple Listing Service. Homes are selling at about $750,000 today, off the all-time high of $797,500 in March 2017. 1 vs. Sept.

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Millennials Expected To Maintain Real Estate Buying Intensity

Will Springer Realtor

The county saw new listings and end-month Active listings rise but Pending sales slip, suggesting buyers are no longer snatching every listing on the Northwest MLS as they become available. Listed at $1,995,000 ($725/sq. Sellers typically ask for back-up buyers. The sellers are asking for $2.1M ($472/sq.

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PREDICTIONS, PARKING, POLLUTED PIPES

Will Springer Realtor

That, in turn, will finally move the market forward with additional sellers and buyers. >> A survey of the largest 50 cities determined Redmond is the 10 th -most active for new apartment construction. Only 1513 listings hit the market in the month for all home types, a devastating 30% decline in one month.

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IS THE HOUSING MARKET HEADED FOR A CRASH?

Will Springer Realtor

Even if a household faced the prospect of foreclosure, buyers would be happy to take the home off an owner’s hands – likely at a profit for sellers – while providing needed inventory. The spring season is nearly over and the number of listings hitting the market has already started to decline, a few weeks earlier than most years.