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Existing home sales data shows extent of housing inflation

Housing Wire

From NAR Research : “Total existing-home sales notched a minor contraction of 0.4% Existing home sales have more legs to go lower, especially now that new listing data is falling. I am a big fan of inventory to 2019 levels. that are at 2019 levels, and they are off the savagely unhealthy housing market list.

Inventory 450
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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. We are seeing more homes for sale in submarkets – except for Mercer Island and Woodinville, where active listings are down 30%+ – compared with a year ago.

HOA 36
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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 rate of homelessness in the U.S.

Law 36
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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. The county saw the combined number of single-family, townhome and condo listings increase in June by 4.4% List: $6.895M ($1556/sq.

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CAN HOUSING SHORTAGE CATCH UP TO EASTSIDE DEMAND?

Will Springer Realtor

Between 2011 and 2019, the median household income in our area increased by about 34% but housing prices jumped 78%. Microsoft has committed $750M since 2019 to help support the creation of more affordable homes in Seattle metro. List price: $3.495M ($782/sq. UPDATE: This home is now under contract, pending inspection.

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RISING INFLATION, RATES TRIP UP HOUSING MARKET

Will Springer Realtor

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. While the number of new listings in June jumped 8.2% LUXURY LIVING King County is well known for its amazing mid-century modern homes.

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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. Active listings as of Sept. in the last 12 months.