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100+ YEARS IN, ZONING LAWS INCH TOWARD HOUSING EQUITY

Will Springer Realtor

King County acknowledged receiving a little under $1B in federal aid for homelessness and housing since 2019, yet the local homeless rate rose 14% this past year. First a look at September’s numbers: A wave of last-chance listings for the year hit the market after Labor Day. The blog has recently focused on helping home buyers.

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SEATTLE ‘WALKING’ TOWARDS URBAN CONNECTEDNESS

Will Springer Realtor

A modern version of the regrade is taking place along the downtown waterfront (pictured above) with the addition of Overlook Walk, a breathtaking pedestrian bridge and viewing deck that will soon connect with Pike Place Market and other attractions in downtown. Here’s a blog post on the topic from last summer.) While there were 5.8%

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Will Springer Realtor - Untitled Article

Will Springer Realtor

>> The number of people working in downtown Seattle offices is about 52% of the daily foot traffic seen in 2019 – a year before the start of the pandemic. King County as a whole is swimming in 30% more listings (3439) and 20% additional homes available at the start of the month (2768) compared with data from a year ago.

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CITIES FACE DAUNTING OFFICE-VACANCY CHALLENGE

Will Springer Realtor

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. Check out my blog post on the topic. New single-family-home listings rose 3.8% List: $6.895M ($1556/sq.

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HOUSING ‘TRIFECT’ PUTTING SQUEEZE ON BUYERS

Will Springer Realtor

Click to expand any image or graphic from my newsletters and blog posts.) The price of new construction has jumped, too; the National Association of Home Builders estimates costs have risen about 35% since 2019. King County new listings fell 13% from June to July (2158), led by a 20% slide in Seattle (690).

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RISING INFLATION, RATES TRIP UP HOUSING MARKET

Will Springer Realtor

For more information on where the economy and local housing market is headed, flip over to my blog for a recently published article with charts and analysis. While the number of new listings in June jumped 8.2% in new listings and 57% in active listings at the start of this month (3256), up 124% from a year ago.

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HINTS OF SHARP INCREASE IN NEW CONSTRUCTION

Will Springer Realtor

It’s particularly true among homes priced at or below $500,000 in King County, where only 737 of those properties sold in August (36% fewer than in August 2019). The good news comes from major national builders who have shared their forecasts for growth in the coming years. This is one of the most popular topics on my blog.