Housing activity in Western Washington shows resiliency as buyers, sellers and brokers adjust to COVID-19 restrictions.   “The market has proved to be very resilient,” remarked Northwest Multiple Listing Service director Mike Larson upon reviewing the statistical report for May. “Buyers in Pierce County stepped on the gas last month after a brief, but significant, […]

Western Washington housing market adjusting to new ways of operating. Residential real estate activity around Western Washington reflected expected declines during April with the impact of the coronavirus pandemic taking its toll. A new report from Northwest Multiple Listing Service shows year-over-year (YOY) drops system-wide in new listings, pending sales and closed sales, but prices […]

Northwest MLS report for March shows initial disruptions from coronavirus pandemic. Like many sectors of the economy, residential real estate is experiencing disruption and uncertainty just when the vigorous spring market was ramping up. Not surprisingly, the March activity report from Northwest Multiple Listing Service, which covers 23 counties across Washington state, was mixed as […]

  As we are fully entrenched in a new normal amidst the COVID-19 pandemic, it is important to note that the Q1 stats you see are based on pre-coronavirus closed sales activity and therefore largely untouched by our current market reality.   While Q1 serves as a pre-coronavirus benchmark, Q2 and Q3 will more accurately […]

  Concerned about how the COVID-19 pandemic might affect your home value or ability to move in the future?  As we all hunker down through these challenging times, a voice of insight and reason has been our Windermere Chief Economist, Matthew Gardner.  He is expecting a sharp economic slowdown accompanied by a 15-20% reduction in […]

NWMLS brokers report brisk activity, noting “too early to tell” if coronavirus will soften sales. Northwest MLS representatives who commented on last month’s activity reported little impact so far from the coronavirus (COVID-19) threat. “It’s still too early to tell if the broadening effects of the coronavirus will sideline buyers,” said Matthew Gardner, chief economist […]

Home buyers in Western Washington “hit the ground running” in January. “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 […]

Eager home buyers were plentiful in December but their choices were meager’ “The buyers are out there and are showing up at open houses and making multiple offers on new listings,” was how one industry leader summarized December’s housing activity involving members of the Northwest Multiple Listing Service. Newly-released figures from Northwest MLS show inventory […]

  A strong local employment sector, very low mortgage interest rates, and the most balanced market we’ve seen in two decades each contributed to increased sales velocity in 2019.   While the number of homes for sale increased overall in 2019 as compared to 2018, the higher rate of sales throughout the year resulted in […]

Q3 was the most stable and balanced market we have seen in years. With very low mortgage interest rates compelling buyers to act and fewer homes for sale than we saw last fall (when a flood of homes came to market), buyers and sellers are each finding their own place in a more equitable real […]

  Changes in the home lending environment drove down mortgage interest rates in Q2 to their lowest levels in years, giving buyers more buying power for their money and stimulating demand for available homes on the market.   The number of homes for sale is up markedly, especially in Seattle, as is the number of […]

  Be forewarned, this quarter’s report looks somewhat dismal. There are two very relevant facts that should be taken into consideration when reviewing it. The first is that Q1 is nearly always the worst performing quarter of any year because the sales completed in Q1 typically went under contract between late November and the end […]