NW REporter

March 2018 Issues

Northwest MLS brokers report 2017 home sales valued at record-high $46.5 billion despite depleted inventory

KIRKLAND, Washington. (Jan. 18, 2018) – Members of Northwest Multiple Listing Service reported 99,345 closed sales during 2017, outgaining the prior year’s volume of 95,500 transactions for an increase of more than 4 percent. Inventory dipped to record lows while prices continued to rise. Measured by dollars, last year’s sales [..]

Burns is bullish on homebuilding because “demographics are massively clear”

Pent-up demand, sparse supply, and shifting demographics are prompting real estate consultant John Burns to pivot from his reputation as a homebuilding pessimist to becoming “one of the most aggressive forecasters” for both price and volume in this sector. During an interview at last month’s International Builders’ Show, Burns, the [..]

NWMLS integrates Down Payment Resource to assist buyers

Atlanta-based Down Payment Resource (DPR), the nationwide databank for homebuyer programs, is now integrated into the listing database at Northwest Multiple Listing Service. The service allows Northwest MLS’s 28,000 real estate brokers to search and review eligibility and benefit details of all homeownership programs in Washington, helping connect their buyers [..]

Soundtracks added to Google Street View

Since 2007 when Google Street View launched, the technology has evolved to feature panoramic 360-degree photos of locations on all seven continents and the latest enhancement: soundtracks. The acoustics are thanks to AI, with early reviewers praising the results as mostly convincing, although they’re not without some hiccups.  “It’s a [..]

Builders invited to add sites to Green Home Tours in Seattle, Tacoma and Olympia

“Environmentally aware” builders of sustainable homes, multifamily projects, ADUs and other green-themed projects are invited to register them for the Northwest Green Home Tour, now in its eighth year. The annual educational event, open to the public, is held in the Greater Seattle area on April 28-29 and is adding [..]

Immigrants account for growing share of worker-strapped construction industry

With the housing industry gaining momentum and native-born workers slow to return to the construction industry since the 2007 downturn, labor shortages are topping the list of crucial impediments to the home building sector. The aging US workforce is an added concern. A new report from the National Association of [..]

Home buyers still competing for sparse inventory in Western Washington, driving up prices – especially for sought-after condominiums

KIRKLAND, Washington (February 5, 2018) – “The Seattle area real estate market hasn’t skipped a beat with pent-up demand from buyers is stronger than ever,” remarked broker John Deely in reacting to the latest statistics from Northwest Multiple Listing Service. The report on January activity shows a slight year-over-year gain [..]

Experts Share Insights on Housing and Economic Trends, Provide Outlook for Year Ahead at annual MBAKS Economic Forecast

On Wednesday, January 31, the Master Builders Association of King and Snohomish Counties (MBAKS) kicked off its first general membership meeting of the year-an economic forecast breakfast presented by the association’s Sales & Marketing Council. The breakfast took place at The Westin Bellevue and featured presentations by Metrostudy Regional Director [..]

National Association of REALTORS invites nominations for a pair of prestigious awards and grant monies

REALTORS® who give back to their communities are eligible to receive a pair of awards from the National Association of Realtors®. Both awards could mean grant monies for their worthy nonprofit organizations or charitable causes. Entry deadlines are February 23 for NAR’s Volunteering Works program and May 4 for the [..]

Survey reveals cooling optimism for housing and the economy

Fewer households believe now is good time to buy or sell a home, surprising representatives with the “Housing Opportunities and Market Experience (HOME) survey.” An independent research firm conducts the quarterly studies for the National Association of Realtors®.   The latest survey, from the fourth quarter of 2017, also found [..]

NWMLS adjusts map area boundaries in two counties

Working with member-brokers, Northwest Multiple Listing Service adjusted boundaries for map areas within Skagit and Kittitas counties. The revisions affect areas 830 and 835 in Skagit County, and areas 948 and 949 in Kittitas County. MLS staff will make necessary area and community adjustments to any listing affected by the [..]

Coming in June: the first-ever NWMLS EXPOsed

Northwest Multiple Listing Service will be holding its first educational convention for its membership called “NWMLS EXPOsed” on Wednesday, June 13. Registration for the event will open in the spring. The $40 fee includes lunch, snacks and a happy hour at the conclusion of the event. Participants at the one-day [..]

NWMLS Monthly Market Snapshot

Share on Social Media You are able to download the infographic to republish on your website or provide to clients. Usage Terms Subscribers may provide NWMLS’s Market Snapshot infographics to clients and prospective clients. Subscribers may republish NWMLS’s Market Snapshot infographics on websites, blogs, e-mails, newsletters, postcards, etc. Subscribers may [..]

News in Brief

Rents are dropping significantly across the Seattle area for the first time this decade, as a flood of new construction has left apartments sitting empty in Seattle’s hottest neighborhoods. The average rent across King and Snohomish counties dipped 2.9 percent in December compared with the prior quarter, according to a [..]

SKCR Endorses Funding for School Districts

Please remember to vote in the February 13 special elections. Seattle King County REALTORS endorses funding requests from three school districts.

SKCR Events Calendar

Date Event Time Where Phone 5/13-18/19 NAR Meetings   Washington, DC 425-974-1011 5/23/19 First Citizen Banquet 5:30 pm – 9:30 pm Fairmont Hotel, Seattle 425-974-1011 5/27/19 Holiday – Office Closed       6/4/19 Housing Issues Briefing 11:30 am – 1:30 pm Meydenbauer Center 425-974-1011 For updates visit: www.nwrealtor.com and [..]

Washington 6th among inbound movers

U-Haul’s annual analysis of inbound and outbound movers pegged Washington as the 6th most popular destination. Among move-to cities, Tacoma was the highest ranking in the state, landing 5th on that list. A similar study by United Van Lines also had Washington among the top 10 states for inbound migration [..]