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FED’S ACTIONS TAKE STEAM OUT OF HOUSING MARKET

Will Springer Realtor

Counties in and near Chicago and New York City were seen as the most vulnerable to today’s economic headwinds. New listings and housing supply are on the rise as buyer activity took a dive in September, based on the latest assessment of data from the Northwest Multiple Listing Service. months’ inventory.

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ROOTING HARD FOR LOWER MORTGAGE RATES

Will Springer Realtor

The 802 new listings last month were a low not seen since records were archived online from 1990. No other month has fallen below 1000 new listings in more than three decades of online record keeping. No other month has fallen below 1000 new listings in more than three decades of online record keeping.

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CAN HOUSING SHORTAGE CATCH UP TO EASTSIDE DEMAND?

Will Springer Realtor

just as Google opens another office building in Kirkland and Microsoft expands its 120-structure Redmond campus with plans for 17 new office buildings. All this tech construction gives new meaning to IT architecture! “A months (homes on the market would be exhausted after 21 days if no other listings were added), up from 0.5

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IS THE HOUSING MARKET HEADED FOR A CRASH?

Will Springer Realtor

Prices have soared in most areas – including a 30% jump in the past year for single-family homes in King County – amid a shortage of inventory and a sharp rise in the number of buyers. 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.

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PREDICTIONS, PARKING, POLLUTED PIPES

Will Springer Realtor

Inventory continues to shrink to levels not seen since the days of disco, shag carpets and pet rocks. Amid unusually low inventory and an anticipated growing buyer pool, the median price of a single-family home will climb beyond $1M in Seattle’s summer months. at this time in 2023 (quite optimistic!).

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FINDING THE KEY TO UNLOCK ‘STUCK’ HOMEOWNERSHIP RATE

Will Springer Realtor

The multi-pronged effort includes legislative and administrative actions to increase the number of affordable units and overall inventory. >> Homeowners are open to space-saving tradeoffs in new construction, with 85% willing to consider island seating over a separate dining space in the kitchen. months, Pierce at 0.8

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IN DIRE NEED OF GENERATIONAL RESPONSE TO HOUSING SHORTFALL

Will Springer Realtor

Some highlights from the Northwest Multiple Listing Service (through July): The combined number of condo, townhome and single-family homes on the market as of Aug. However, we are miles from a balanced market, with King County total active listings still 31% fewer than this time last year. months of inventory available compared with 0.3