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Will Springer Realtor - Untitled Article

Will Springer Realtor

Even with aggressive changes to state and local zoning and fewer obstacles for building developers, the highly regarded Urban Institute estimates that by 2044 the Puget Sound region will be 140K homes shy of real demand. About three-quarters of the 459 residences are under contract with a target opening late this year.

HOA 36
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Will Springer Realtor - Untitled Article

Will Springer Realtor

This year’s “cold down” is stark, with 36% fewer new listings and about 26% fewer homes under contract (Pendings) for all King County home types combined as well as single-family structures alone – and that’s simply from October to November. A little more than a third of inventory is under contract. Prices declined 5.4%

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100+ YEARS IN, ZONING LAWS INCH TOWARD HOUSING EQUITY

Will Springer Realtor

The first successful zoning laws were established in 1916 to determine building heights in New York City, soon followed by the zoning of residential and business districts. The effort was led by lawyer Edward Bassett, who went on to develop freeways and parkways. Seattle alone saw a 29% (1213) monthly increase in new listings.

Law 36
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CAN HOUSING SHORTAGE CATCH UP TO EASTSIDE DEMAND?

Will Springer Realtor

While these are promising developments, there will always be the affordability question. That includes 621 fewer Pending contracts in April 2022 than the previous April, as the net number of new listings remains on average lower than in years past. CONDO NEWS. List price: $3.495M ($782/sq. bath , 6920 sq.

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Will Springer Realtor - Untitled Article

Will Springer Realtor

They have also been spending oodles of money to shape their residences to meet new living needs – modern and spacious, when possible – as households live in their homes for longer. month backlogs of contract work, as of Q4 (latest data available), which is down from the peak of 4.8 annually in home improvements across the U.S.,

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FINDING THE KEY TO UNLOCK ‘STUCK’ HOMEOWNERSHIP RATE

Will Springer Realtor

Well, I am only a single real estate professional with one opinion but, for me, the solution includes enacting a blend of corporate and federal dollars toward incentivizing the development of affordable for-purchase housing that targets under-served communities whose residents would otherwise find homeownership difficult to achieve.

Design 36
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CITIES FACE DAUNTING OFFICE-VACANCY CHALLENGE

Will Springer Realtor

We’ll have new incentives, and quite frankly, this will inform our budget,” he said. We are charting new territory and success will be measured by creativity and collaboration. Local government, developers, architects and others will need to step up and take responsibility for the sake of our city.