Housing Wire

FEBRUARY 7, 2024

With mortgage rates briefly topping 8% and home prices breaking records throughout the year, many would-be sellers simply decided not to bother listing their homes, exacerbating already tight inventories. New data from the U.S. Mortgage rates followed suit, walloping buyers’ purchasing power.

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Housing Wire

JUNE 4, 2023

Last week we saw a noticeable slowdown in housing inventory growth that I hope has more to do with a holiday week than a trend. Mortgage rates fell last week after the debt ceiling issues were resolved, but the damage from higher rates took its toll on purchase application data again.

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Housing Wire

SEPTEMBER 12, 2023

The point of the editorial seemed to be to scaremonger over government programs to help home buyers and student loan borrowers. So, the author tried to use new construction prices from back in April to describe the whole U.S. housing market now. That’s frankly surprising given how cold the housing market froze last fall.

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Will Springer Realtor

APRIL 11, 2023

That’s not saying much since the housing market has mostly been in hibernation during the fall/winter months. Pending sales are one of our favorite housing market data points – along with the number of mortgage applications and new listings – to track buyer intent and market intensity.

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Will Springer Realtor

FEBRUARY 13, 2024

The Seattle/King County housing market appears to have come through the worst of times with a slightly stronger showing in January than in previous months. And, despite the rise in new listings, the number of homes still on the market on Feb. Only 1183 single-family homes were on the market in the county on Feb.

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Will Springer Realtor

DECEMBER 19, 2023

The region’s real estate scene in 2023 will be remembered for rising home prices and scant new listings. As the year dims, all eyes fixate on 2024’s potential: a hopeful dance fueled by dreams of lower rates and a wave of new homes for sale. Buyers and sellers tiptoed through caution. How can we forecast years out?

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Will Springer Realtor

AUGUST 15, 2023

Variations between the two years are stark, to say the least: A “re-evaluation” for future buyers can be defined as consumers determining when to jump (or jump back) into the home-search pool as mortgage rates appear stuck around 7.0%. Mortgage rates are high, home prices are high, there’s no inventory.” on the Eastside.

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McKissock

SEPTEMBER 10, 2021

Mortgage lenders anticipate increased refinance volumes, but they’re more cautious when it comes to purchase demand. Manufactured housing is key to the Biden Administration’s initiative to boost affordable housing. . ” Mortgage lenders anticipate improved refinance volumes.

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Will Springer Realtor

MAY 13, 2024

today – may hold the keys (literally and figuratively) to the housing conundrum. Baby Boomers still have a significant impact on various aspects of society, including the housing market, healthcare and the economy. Baby Boomers – those born between 1946 and 1964 who total 72M in the U.S. But for how long?

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Will Springer Realtor

JANUARY 11, 2023

A patch of foul weather and persistent economic challenges chilled an already cold housing market. The Northwest MLS monthly housing report described it best: “December ends with a ‘whimper’”. The bar is so low on listings and sales data that one might trip over it. CONDO NEWS. LUXURY LIVING. This 4-bed, 4.5-bath,

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Will Springer Realtor

OCTOBER 11, 2023

For the most part, we can celebrate the standards established by state and local governments as they evolve into the second century. 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.

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Will Springer Realtor

NOVEMBER 14, 2023

Worsening affordability issues and lower-than-usual inventory have prompted many consumers to watch this housing market from the sidelines – without the picket lines. October figures from the Northwest Multiple Listing Service strongly suggest prospective buyers and sellers are taking a wait-and-see approach. Among all U.S.

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Will Springer Realtor

SEPTEMBER 12, 2023

New owners here spend an average of $232.5K on first-year costs, including a 20% down payment, closing costs, monthly mortgage, insurance and property taxes. SEPTEMBER HOUSING UPDATE There is a feeling of Halloween in the real estate world because this housing market is a bit scary these days. While there were 5.8%

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Will Springer Realtor

APRIL 8, 2021

The boost in equity was helped most simply by saving more while in “pandemic hibernation” and from many homeowners refinancing mortgages amid generationally low interest rates. >> housing markets. million loans in forbearance – mortgage payments on pause, most likely for financial reasons during the pandemic.

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Will Springer Realtor

MAY 9, 2023

Compounding the demand is a consumer public determined to stay put for several more years rather than dive into a real estate market clouded by higher interest rates. Information from the National Mortgage Database shows 83% of all mortgage holders enjoy an interest rate below 5% when today’s average rate is about 6.5%.

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Will Springer Realtor

AUGUST 9, 2022

Many local governments permit at least one dwelling unit with the main residence and some locales accept an attached and detached unit on the same property. The cities of Seattle and Renton offer pre-approved ADU designs to help streamline the government-approval process which can often be onerous. I have written on this topic before.

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Will Springer Realtor

JULY 13, 2023

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.

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Will Springer Realtor

MAY 9, 2022

Let’s just hope government leaders and other influencers remember to bring everyone along for the ride. DID SOMEBODY SAY, ‘HOUSING BUBBLE?’. Are we in a housing bubble? The housing market has become bubbly,” said economist Enrique Martinez-Garcia of the Federal Reserve Bank of Dallas. housing market is unrealistic.

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Will Springer Realtor

FEBRUARY 9, 2022

“That’s a triple whammy hitting potential homebuyers,” notes Len Kiefer, deputy chief economist at Freddie Mac, which buys many of our mortgage loans from lenders. People are looking at higher prices, there’s slim pickings in inventory and now we have higher mortgage rates.”. The new fees will take effect on April 1. “As

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Will Springer Realtor

DECEMBER 12, 2023

= I wrote in this newsletter 12 months ago about the bumpy – maybe even bruising – housing market of 2022 across Puget Sound and most of the country. It was a year of gyrating mortgage rates and stubbornly high home prices. Prospective buyers this year have mostly watched the housing market pass from the sidelines.

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Will Springer Realtor

MAY 12, 2021

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. Today, 37% of all buyers are Millennials and they comprise about 54% of all mortgage applications. Icon is on a mission to change the way we house the homeless and others.

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Will Springer Realtor

AUGUST 9, 2021

In another study , released earlier this month, Seattle’s housing affordability index fell 20%, the second-sharpest year-on-year decline after Phoenix (23%) among major U.S. The index showed a growing difficulty to afford a home even while household income and mortgage rates improved compared to last year. AUGUST HOUSING UPDATE.

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Will Springer Realtor

FEBRUARY 9, 2024

Builders are partnering with mortgage lenders to deliver lower interest rates, either through temporary or permanent rate-busting promotions. Three housing-related topics are of prime focus: Lot Splitting – a process that would allow property owners to split part of their lot of land to have a new buildable area of at least 2000 sq.

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