It is safe to say that our region – and the entire country for that matter – just experienced one of the worst turns for the residential real estate sector in recent memory.
Housing affordability has fallen to its lowest level in more than 30 years. Prices soared through most of the year despite improving inventory.
The massive market cooldown began in the spring when mortgage interest rates rose to more than double the level at the start of 2022.
We have said this in recent times, but this is a time we would like to soon forget when it comes to buying and selling a home. It’s time to flip the page on the calendar.
Every December, I like to recap the year and look ahead to what’s on the horizon in all aspects of Seattle/King County real estate. I published a full assessment last week.
If time is short, here is a video recap of that blog post.
There are glimmers of hope for 2023 and I can share some keys to a successful home transaction. It starts by working with a seasoned real estate professional and Realtor®. Contact me when you’re ready to talk!