NW REporter

Northwest REporter is a joint publication brought to you by Northwest Multiple Listing Service and the Seattle King County REALTORS.

Seattle King County Realtors

November 2023 Issues

High interest rates continue to influence inventory and growth

Further increases in interest rates continue to influence the expected seasonal slow-down during fall and winter months.

Builder incentives contributing to sales resilience

With home prices growing twice as fast as incomes and mortgage rates at a 23-year high, few are surprised that housing activity has slowed. What may be surprising is sales of newly built homes are bucking the trend and showing remarkable resilience, according to reports from John Burns Research & [..]

Builders call for more predictable permit process to ease housing crisis

Under the theme “Local Permitting Changes to Make Home Happen Now,” the keynote speaker, a panel of local officials, and representatives from the Master Builders Association of King and Snohomish Counties (MBAKS) emphasized the importance of a timely, predictable, and fair permitting review process. Their remarks were made during the [..]

Enhanced septic records search tool will ease siting of ADUs

King County recently unveiled a new septic records search tool that enables Realtors to view septic system and Group B water system records on file with Public Health – Seattle & King County. The streamlined tool was developed with assistance and input of the On-site Sewage/Septic System Technical Advisory Committee, [..]

White House outlines incentives to repurpose vacant buildings for housing

Developers and building owners may be able to leverage billions of federal dollars to convert vacant office properties into residential uses under guidelines the White House unveiled late last month. The wide-ranging guidelines include actions by the Department of Transportation, the Department of Housing and Urban Development, and the General [..]

Issues & Impacts: November 2023

Issues & Impacts is a quarterly publication produced by the SEATTLE KingCounty REALTORS® to inform members about current issues and successes within your Governmental Affairs Department. SEATTLE KingCounty REALTORS® (SKCR) is ensuring that public policies support homeownership and your business’s bottom line. View the full publication

Seattle among 5 “least affordable metros”

With an overall score of 114.568, the Seattle region landed fifth on a ranking of “least affordable metros,” topped only by #1 San Francisco, #2 San Diego, #3 Honolulu and #4 New York. Los Angeles ranked #6. The analysis of the nation’s 100 largest metros was published last month by [..]

Tacoma Habitat building first innovative carbon home in U.S.

A first-of-its-kind home using zero-carbon concrete will be part of a small Tacoma/Pierce County Habitat for Humanity project in Gig Harbor. The nonprofit housing organization is partnering with the National Ready Mixed Concrete Association’s (NRMCA) Build with Strength coalition and others on the innovative three-home development. For qualified renters who [..]

Opening doors to homeownership for young people without family money

With starter homes becoming increasingly unaffordable, some first-time buyers are relying on family so they can join the ranks of homeowners. Would-be buyers who are born to homeowner parents also have an edge in getting on the first rung of the housing ladder. Research by Redfin and others underscores the [..]

Regional partners sponsoring campaign to bring volunteers back to food banks

Tis the season for gatherings! Are you looking for an opportunity to get together with colleagues, friends, relatives, or neighbors for a meaningful cause? Hunger relief programs throughout Washington are in dire need of volunteers with various skills and abilities to help with food distribution tasks. Several organizations have teamed [..]

New In Brief: November 2023

Nearly two-thirds - or 59% - of U.S. homebuyers think purchasing a home is more stressful than dating, according to a new report from Redfin. Based on the results of a Redfin commissioned survey conducted in May and June of 2023, of the life events participants had to choose from, most [..]

SKCR Events Calendar: November 2023

SKCR Events Calendar

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