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RISING INFLATION, RATES TRIP UP HOUSING MARKET

Will Springer Realtor

Our shrinking wallets have people delaying bigger purchases or at least looking for bargains when possible – including homes. 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.

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Millennials Expected To Maintain Real Estate Buying Intensity

Will Springer Realtor

Home prices are overheating, mortgage rates are inching up from the start of the year and the supply of homes is in an unseasonable valley – far from its Mt. One of the reasons for the continued home-sales intensity – in any season – is a key group of “new” buyers. Rainier-esque peak of a decade past! Thank you, Millennials!