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

October 2023 Issues

Indicators point to a continued market slowdown, optimism on the horizon

As we head into the fall season, the number of transactions in Washington counties continues to decline, with limited growth in year-over-year median prices.

Department of Commerce unveils Toolkit for developing “Middle Housing”

On the heels of Washington State Legislature’s “year of housing” when several significant housing and land use bills were passed and signed into law, a new Toolkit was developed to help cities and towns meet their need for more housing. Opticos Design, which partnered with Seattle King County REALTORS® on [..]

Cities, planners collaborate to ease housing shortage

The State of Washington was well represented at the second meeting of the Housing Supply Accelerator steering committee when members met in Tacoma in July. Described as a solutions-oriented campaign, the effort is a joint undertaking of the National League of Cities (NLC) and American Planning Association (APA) to ease [..]

Escalating rates causing consumers to “hold out for better circumstances”

With mortgage rates at a 23-year high (7.31% for a 30-yr fixed rate mortgage as of 9/28/2023), Freddie Mac indicated more and more buyers and sellers say they are holding out for better circumstances. Lenders and industry insiders have diverging expectations on which direction rates may be heading in the [..]

Bellevue’s MFTE credited with spurring builders to include affordable units

Like many cities in the Puget Sound region, Bellevue’s high-priced housing is too expensive for many who work in the city. These workers include first responders, teachers, and health care providers. In an effort to support the development of more affordable housing projects, Bellevue created or modified various initiatives including [..]

Experience levels affect likelihood of sales transactions

An agent’s work experience is “highly predictive of how successfully and quickly they can sell homes,” according to the authors of a 100-page working paper titled “Heterogeneous Real Estate Agents and the Housing Cycle.” The report from the National Bureau of Economic Research analyzed 8.5 million real estate transactions from [..]

Amazon pledges $40 million to boost homeownership

Amazon pledged $40 million last month to help moderate-income residents become homeowners in three areas where the online retailer and tech company has a major presence. The pilot initiative aims to help up to 800 individuals and families from underserved communities in Nashville, Tennessee; Arlington, Virginia; and the Puget Sound [..]

REALTORS® to convene October 27 for environmental stewardship project

On October 27, whether sunny or rainy, members of Seattle King County REALTORS® and its Affiliate Council will convene at Soos Creek Trail, just south of Gary Grant Park in Kent. Not only will they help with an environmental stewardship project, but they will be honoring beloved colleague Dahni Malgarini-Logar, [..]

New In Brief: October 2023

Education research firm Scholaroo found Washington state has some of the worst teacher-to-student ratios in the country. In their 2023 report, Washington is one of the states in the bottom 25% of teacher shortages. Numbers from Scholaroo show there are 60 teachers per 1,000 enrolled students. Washington sees a particular need for early childhood [..]

SKCR Events Calendar: October 2023

SKCR Events Calendar

Back to top