NW REPORTER

NW REporter

March 2020 Issues

Washington ranks 9th in number of community associations, with more growth expected

Washington state has an estimated 10,450 community associations encompassing more than 2.3 million residents, according to 2018-2019 National and State Statistical Review for Community Association Data, published by the Foundation for Community Association Research. That number puts it 9th among U.S. states.  Continued growth is expected.  Between 2,500 and 3,000 [..]

Home Buyers in Western Washington “Hit the Ground Running” in January

KIRKLAND, Washington (February 6, 2020) – “All indicators point to a vigorous spring market,” suggested broker Dean Rebhuhn when reviewing just-released statistics from Northwest Multiple Listing Service. The report covering 23 counties shows pending sales outgained new listings, record-low inventory that’s down 33% from a year ago, and double-digit price [..]

Microsoft adds $250 million to affordable housing initiative

Microsoft upped its commitment to its affordable housing initiative by another $250 million last month, bringing the total to $750 million since its initial announcement about a year ago. Concurrently, the tech giant announced $55 million in investments and grants towards its original $500 million commitment. The latest quarter-billion dollars [..]

Homebuyers say “moving for a better home” is primary reason for their move

Homebuyers move for many reasons, with “move for a better home” leading the list among both first-time buyers and trade-up buyers. The National Association of Home Builders used data from the 2017 American Housing Survey (AHS) to create a profile of home buyers who purchased within the two years prior [..]

Northwest MLS by the numbers

Northwest Multiple Listing Service tallied 9,662,111 total logins during 2019, with an average of 16,381 average unique logins per day. Its Transaction Desk recorded 10,624,614 daily logins with 10,622 average unique logins each day. Those were among the statistics in the NWMLS 2019 year-end report. The MLS also reported a [..]

News In Brief

Microsoft has allocated $380 million of its commitment, which it hopes will go toward creating and preserving about 6,500 affordable housing units in the Seattle metro area. Here’s a breakdown of where Microsoft has allocated the funds so far. Microsoft provided a $250 million line of credit to the Washington [..]

SKCR Events Calendar

Date Event Time Where Phone Feb 12 Affiliate Council Meeting 10:00 am – 11:00 am SKCR 425-974-1011 Feb 17 HOLIDAYOffice Closed       Mar 4 –June 20 NAR Region 12 Meetings   Alaska 425-974-1011 For updates visit: www.nwrealtor.com and look under “Events”

Seattle among cities with toughest laws for home builders

Regulations imposed on homebuilders are generally getting worse across the country, and they’re driving home prices higher, according to researchers at the University of Pennsylvania and Harvard University. Their comparison of metropolitan areas ranked Seattle tied at #4 among cities with the most expansive zoning regulations. Researchers noted the cities [..]

Latest Housing Trends Report has both good and bad news

The share of adults who are considering purchasing a home in the next 12 months fell to 11% in the fourth quarter of 2019, down from 13% reported for the same period of year ago. That decline marked the fifth consecutive year-over-year drop in the number of Americans intending to [..]

State’s underproduction of housing has costly consequences

Washington state fell 225,000 units short of meeting its housing needs – and that’s just for the period from 2000-2005, according to a new report. That study was based on research by Up for Growth, a nonprofit coalition that produced 24 pages of findings titled Housing Underproduction in the U.S. [..]