Archive
Category: Monthly Market Update
Monthly Market Update
Persistently high prices put strain on market affordability
The seasonal slowdown of the real estate market has begun, as evidenced by the month-over-month decrease of active listings.
Monthly Market Update
Unsettled mortgage rates prolong uncertainty in the market
Closed sales increased by over 11% month-over-month, driven by a brief downturn in mortgage rates and a boost in buyer confidence amid hopes for continued rate declines.
Monthly Market Update
Lowered mortgage rates provide boost but affordability remains elusive
The further reduction of interest rates in September by the Federal Reserve provided a positive end-of-the-summer boost to the market.
Monthly Market Update
Will Increases in Inventory and Lower Mortgage Rates Ease Affordability?
Mortgage rates are at their lowest level since March 2023 (6.35% for a 30-year fixed rate mortgage as of August 29th).
Monthly Market Update
High Interest Rates Still a Problem, but Markets Are Improving
High mortgage interest rates continue to be a drag on home sales, discouraging both potential buyers facing high-rate mortgages and would-be sellers wanting to keep their low-rate mortgages.
Monthly Market Update
Increased inventory leads the way to market stabilization
Washington counties covered by NWMLS continue to follow seasonal trends with respect to inventory levels yet divert from typical patterns with regard to transaction volume.
Monthly Market Update
While interest rates remain high, an increase in inventory and closed sales transactions signal that buyers and sellers are adjusting
The real estate market has continued to pick up in accordance with typical seasonal patterns, with further increases in activity expected as we move fully into the summer months.
Monthly Market Update
Market activity increases despite “constrained” mortgage rate impacts
The real estate market has begun to pick up consistent with typical seasonal patterns, with further increases in activity expected over the next few months as we transition from spring to summer.
Monthly Market Update
Decreased mortgage rates have yet to influence the market
Interest rates have decreased by 0.15% over the past month to 6.79%, and while the rate decrease is encouraging, it has yet to have a significant impact on prospective buyers’ purchasing power or prospective sellers’ willingness to give up low interest rate mortgages.
Monthly Market Update
Cautious market optimism as seasonal changes take shape
The real estate market has remained slow in accordance with typical seasonal patterns, with expected increases in activity as winter transitions into spring.