Housing Market
Back to News Center Of the top 50 housing markets in the U.S. only three (all in the Midwest) are considered affordable for median earners, according to Realtor.com. In its analysis, the listings website used the industry threshold that no more 30% of a household’s income is spent on buying…
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Back to News Center Housing affordability continues to hamper would-be home buyers, according to a report from the National Association of REALTORS® (NAR). It found the demographic profile of homeownership is shifting, with first-time owners comprising only 24% of the buyers, down from 2023 when that cohort was 32%. In…
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Back to News Center Housing activity during March perked up with the arrival of spring, according to the latest report from Northwest Multiple Listing Service. Listings, sales and prices all outgained the previous month and the same month a year ago. Brokers suggested more favorable conditions await would-be buyers, with…
Read More Back to News Center Key metrics on housing activity were mixed in November as seasonal slowdowns began, according to Northwest Multiple Listing Service. Its latest report shows systemwide month-over-month declines in new listings, total inventory, pending sales, closed sales and median prices. However, when compared to a year ago, three…
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Back to News Center Nearly half of all renter households across Washington state pay more than 30% or income on housing costs. Some of these cost-burdened renters pay more than 50%, according to The State of the State’s Housing Report published by the Washington Center for Real Estate Research (WCRER).…
Read More Back to News Center Pending sales of single family homes and condos in counties served by Northwest Multiple Listing Service (NWMLS) jumped nearly 27% during October compared to the same month a year ago. Last month’s volume of mutually accepted offers surged more than 30% in King County and more…
Read More Back to News Center Mortgage rates fell to their lowest level since February 2023 last month, but the cut did not spark much movement in homebuyer demand, according to the latest data from Northwest Multiple Listing Service (NWMLS). Its report for September showed year-over-year (YoY) gains in both new and…
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Back to News Center Presidential elections have little impact on home sales in the five months leading up to such elections, according to research by John Burns Research & Consulting. The firm measured both new and existing homes. “The annual seasonal decline in home sales is no worse in election…
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Back to News Center International buyers purchased $42 billion worth of U.S. existing homes from April 2023 through March 2024, according to a new report from the National Association of Realtors®. That volume was a drop of 21.2% from the prior 12-month period. The highest dollar volume of existing-home purchases…
Read More Back to News Center Despite strong gains in inventory levels, Northwest Multiple Listing Service reported year-over-year (YoY) drops in both pending sales and closed sales during June for the 26 counties in its monthly report. The area-wide median sales prices rose 4% from twelve months ago. King County’s pending sales…
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