NW REPORTER

NW REporter

October 2022 Issues

Brokers say home buyers “finally get some relief” with return to “more traditional market”

The report on September activity shows active listings are nearly doubled from a year ago, pending sales declined more than 31%, but prices in most counties are still rising.

NAR report shows dips in sales, supply during August, but prices still rose

Existing home sales across the U.S. decreased during August, as did inventory, while the median sales price for existing homes rose from a year ago, according to the National Association of REALTORS® (NAR). The sales drop – down 0.4% from July and 19.9% from the previous year — marked the [..]

John Burns Real Estate analysts doubt housing market will evade slump

Many would-be home buyers are handcuffed in the wake of escalating mortgage rates, according to Rick Palacios Jr. at John Burns Real Estate Consulting. With rates above 6%, home sales, construction volumes and even home prices in many markets are falling, he notes. Palacios, a managing principal and the director [..]

Home builders report impressive growth between 2020 and 2021

Home builders reported significant growth in activity between 2020 and 2021, according to the latest member census from the National Association of Home Builders. The NAHB report showed the median gross revenue of a member builder in 2021 was $3.3 million, up an impressive 26.9% from the previous year, although [..]

Issues & Impacts: October 2022

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

Remodeled homes tour features virtual and in-person tours

Fifteen custom-remodeled residences in King County are featured in this year’s Remodeled Homes Tour, presented by the Remodelers Council of the Master Builders Association of King and Snohomish Counties. Scheduled for Saturday, October 22, the free showcase includes seven in-person tours and 15 fully interactive virtual tours. There is no [..]

Free litter bags offered to help put litter in its place

Roadside litter isn’t just an eyesore – it’s expensive and hazardous, causing hundreds of car crashes every year, according to Washington’s transportation and ecology departments. In hopes of reducing an estimated 18 million pounds of litter (yes, more than 9,000 tons!) that accumulate annually onto the state’s roads, parks and [..]

Seattle group’s social housing initiative approved for Feb. 14, 2023 ballot

Seattle voters will decide whether the city should create a public development authority to create affordable housing. Backers gathered enough signatures to put Initiative 135 on the February 14, 2023 special election ballot. If approved, I-135 would create a community-controlled public development authority, to be called the Seattle Social Housing [..]

News In Brief: October 2022

The New York Times reported that the Bank of America is offering mortgages for first-time homeowners that do not require down payments, minimum credit scores or closing costs in a program aiming to boost homeownership rates among first-time Black and Latino buyers. Under the trial program, which was announced last [..]

SKCR Events Calendar: October 2022

SKCR Events Calendar