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

August 2023 Issues

Housing market downturn “inevitable” with higher rates, but brokers find bright spots

A downturn in the housing market was inevitable given higher mortgage rates, acknowledged broker Dick Beeson, but he and others who commented on the latest report from Northwest Multiple Listing Service noted some positives for both buyers and sellers.

Market for middle-income buyers has shortage of 300,000 homes

Home buyers with “middle incomes” are finding sparse inventory, according to a new report from the National Association of Realtors® and Realtor.com®. Their analysis found middle-income buyers face the most severe shortages of homes in their price range. The nation’s housing market is missing about 320,000 home listings valued up [..]

Developers say Seattle’s strict energy code contributes to housing shortage

Escalating rents for apartments in Seattle are anticipated as developers seek fewer permits, and shift their focus to other jurisdictions, according to a report last month in the Puget Sound Business Journal. Seattle’s strict energy code is cited as a reason for a steep drop in permits. The Seattle Energy [..]

Realtors among four industry groups SCOTUS review of NY Rent Stabilization Law

Seattle City Council Rejects Rent Control BillAt its August 1st meeting, the Seattle City Council rejected a rent control bill sponsored by outgoing member Kshama Sawant. She was joined by Tammy Morales in voting in favor of the proposed measure. Six members voted no. Seattle King County Realtors, led by [..]

King County Council accepts report, considers recommendations for restitutions for victims of race-based real estate practices

Black, Indigenous, and People of Color (BIPOC) who lived in King County since 1950 lost $12 billion to $34 billion in intergenerational wealth due to race-based restrictive real estate practices. That estimate – believed to affect 386,600 residents representing approximately 129,300 households — was in a recently published study that [..]

Issues & Impacts: July 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

HOA residents face rising assessments for unanticipated expenses

Nearly three of every four respondents (73%) to a recent survey plan to raise assessments for the residents they serve at condominiums, homeowners associations, and housing cooperatives. The anticipated fee hikes are to offset unexpected increases in expenses due to rising costs and inflation. Respondents to the survey by the [..]

Seattle contest on office-to-housing conversions “more than met its goal”

Three winners were selected from 13 entries from a dozen teams in the City of Seattle’s “Office to Residential: Call for Ideas” contest. All submissions can be viewed in an electronic gallery. Sponsored by the Seattle Office of Planning and Community Development (OPCD), the competition invited building owners and architects/design [..]

Trees for Seattle applicants must submit form by August 7th

Trees for Neighborhoods provides:·   Up to 3 trees per household (lifetime max of 6 per address).·   Help in selecting the right tree and planting location.·   A watering bag and mulch for each tree.·   Training on proper planting and care.·   Assistance applying for street tree planting permits.·   Ongoing care reminders and [..]

News In Brief

Seattle’s recovery from the pandemic is still going strong, at least in population growth, according to a report by Gene Balk in the Seattle Times. New data from the Washington Office of Financial Management shows Seattle’s population hit 779,200 on April 1, a net gain of about 16,700 people from [..]

SKCR Events Calendar: August 2023

SKCR Events Calendar

Back to top