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Pending home sales surged in December: NAR

Housing Wire

The housing market is off to a good start this year, as consumers benefit from falling mortgage rates and stable home prices,” NAR chief economist Lawrence Yun said in a statement. New home sales , another measure of contract signings, rose 8% in December on the back of declining mortgage rates. in 2025 to reach $405,200.

Contracts 445
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Mostly Positive Start to 2024 Housing Activity in Seattle/King County

Will Springer Realtor

And, despite the rise in new listings, the number of homes still on the market on Feb. The figures were promising from the single-family-home category as well, with new listings jumping 129% (1335) from December in King and up a negligible 0.5% fewer listings than December and 28% below January 2023 figures.

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High Financing Hurdles Lead to Low Housing Activity in Seattle/King County

Will Springer Realtor

The market is spooking many potential buyers and sellers thanks to stubbornly high mortgage interest rates. fewer new listings, the rate of sales rose 1.7% fewer new listings (1998) compared to July and 5.0% At least that’s what some economists have expressed. Only buyers and sellers who must move are doing so.

Finance 68
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Affordability Woes Prompt Historic Housing Slowdown

Will Springer Realtor

Sales activity across the county is at historic lows; no October has experienced fewer listings in King County – not even close – since at least 1992 when records were first archived online. New listings for all home types in King County stood at 2157, a whopping 25% drop from September to October. Closed sales fell 0.9%

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Will Springer Realtor - Untitled Article

Will Springer Realtor

Builders are trying to catch up and, according to federal officials , there are more housing units under construction today than at any time in the last 50 years. An annual survey released this month by the Federal Reserve Bank of New York said renters put the probability of ever owning a home at 40%, down from 44% last year.

HOA 36