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Expectations for 2023 in Seattle/King County Real Estate

Will Springer Realtor

markets more dependent on the multi-billion-dollar tech industry. markets more dependent on the multi-billion-dollar tech industry. What followed was a consumer public unwilling – or unable – to qualify for mortgages with interest rates more than double from the start of the year. What’s next?

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Expectations for 2024 in Seattle/King County Real Estate

Will Springer Realtor

The region’s real estate scene in 2023 will be remembered for rising home prices and scant new listings. Welcome to our sixth annual look back at the year that was and to predictions and projections for the coming 12 months in real estate for Seattle/King County and beyond. Here are some of the big questions to ponder in 2024.

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REAL ESTATE SETTLEMENT WILL UNSETTLE BUYERS

Will Springer Realtor

Here are some key points to consider: Re-evaluation of real estate services: Sellers may opt to offer reduced compensation to both listing and buyer agents in response to the settlement. While the NAR denies any wrongdoing, the proposed settlement promises significant changes in how business is conducted in the real estate market.

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FED’S ACTIONS TAKE STEAM OUT OF HOUSING MARKET

Will Springer Realtor

The inter-bank rate stands at about 3.1%, coincidentally the exact figure that Freddie Mac reported at the start of 2022 as the average mortgage rate in the U.S. The inter-bank rate stands at about 3.1%, coincidentally the exact figure that Freddie Mac reported at the start of 2022 as the average mortgage rate in the U.S.

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WILL WAR IN UKRAINE IMPACT OUR HOUSING MARKET?

Will Springer Realtor

Here we are asking ourselves how Russia’s invasion of a sovereign nation – sending Europe into heightened uncertainty not seen since World War II – may impact our lives thousands of miles away. Interest rates on a 30-year mortgage have slipped since the start of the conflict, now averaging 3.76% in the U.S.,