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Homebuyers may find some good news in the latest report from Northwest Multiple Listing Service (NWMLS). The number of active listings at the end of June, 6,358, reached the highest level since November when buyers could choose from 6,505 properties. The volume of new listings added last month was the highest number in 17 months (13,111 last month versus 14,689 at the end of November 2019).

"Homebuyers will be happy to hear that between May and June the number of listings in King, Pierce, and Snohomish counties rose, giving them more homes to choose from and possibly easing the pressure just a little," remarked Matthew Gardner, chief economist at Windermere Real Estate.

For the tri-county area, total active listings of single family homes and

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The Federal Housing Finance Agency (FHFA) found that house prices across the nation rose 16% from April 2020 to April 2021.

From March to April, house prices across the nation rose 1.8%, surpassing the previous month’s 1.6% increase.

Three regions — the Pacific coast, the western states and New England — saw more pronounced year over year increases. The FHFA index tracks seasonally-adjusted, purchase data from Fannie Mae and Freddie Mac.

In the mountain division, which includes Colorado, New Mexico, Idaho, Wyoming, Utah, Nevada, Arizona and Wyoming, house prices rose 21% year over year. In the pacific division, encompassing Washington, Oregon and California, prices rose 18%. In Maine, Vermont, New Hampshire, Massachusetts, Connecticut and Rhode

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First time homebuyers and seasoned homebuyers alike are finding themselves frustrated when they bid over asking price, without concessions, only to be declined over and over.

“Why are we getting outbid?”

It’s the question on a lot of would-be homebuyers’ lips right now, and there are a few different factors at play.

Although it may feel like another housing bubble, the issues plaguing the market today are far different. In 2008, the housing market crash was precipitated by questionable mortgage practices and home builders churning out more homes than the market could absorb.

Today, that equation is flipped: lenders are only issuing mortgages to highly qualified individuals, the existing housing stock isn’t enough for a growing population,

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After three straight weeks of declines, mortgage applications increased 4.2% for the week ending June 11, 2021, according to the latest report from the Mortgage Bankers Association.

Both purchase and refinance applications increased, with refinances notably up 5.5%, according to Joel Kan, the MBA’s vice president of economic and industry forecasting.

“The jump in refinances was the result of the 30-year fixed rate falling for the third straight week to 3.11%, which is the lowest since early May,” Kan said. “U.S. Treasury yields have slid because of the uncertainty in the financial markets regarding inflation, and how the Federal Reserve may act over the next few months.”

Purchase applications were also down 17% from a year ago, the start of the

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Seattle's intensely competitive housing market continued to see record-breaking growth in May, and the summer season is looking to be just as hot as low inventory in the region persists.

A new report from the Northwest Multiple Listing Service found median sale prices for homes in the region soared 30% compared to a year ago, a new record high. In King County, the median home sale price hit $775,000 in May, up 23% from the same time last year. In Snohomish County, median prices hit $655,000, increasing nearly 35% year over year.

"Everything is about breaking records this past year with record-breaking housing prices, record-breaking low inventory, and record-breaking consumer savings rates during the pandemic," remarked Meredith Hansen,

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The housing market is on fire.

What began as a pickup in demand early in the pandemic has evolved into an all-out buying spree. Sales of new and previously owned homes, while off their peaks, remain elevated. Construction has picked up somewhat, but contractors are struggling to shore up supply. With inventory sitting near record lows, price growth has accelerated to rival the 2000s housing bubble.

Reports published Tuesday confirmed the boom is alive and well. Prices soared through March at the fastest rate since 2005, according to S&P CoreLogic. Separately, Census Bureau data showed new single-family home sales slowing 5.9% through April. Still, the sales pace sits well above the pre-pandemic norm.

But it's not just conventional gauges

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Nationwide, almost half of homes sold above list price. These and several other record-breaking measures made April a historic month for housing.

Note: Pandemic lockdowns significantly slowed home buying and selling in April 2020, which means the year-over-year trends for home prices, pending sales, closed sales and new listings are somewhat exaggerated. 

April was another history-making month for housing, with homes selling for higher prices and in fewer days since at least 2012. The following measures all hit new records:

  • The national median home-sale price hit a record high of $370,528, up 22% from 2020.
  • The number of homes for sale fell to a record low.
  • The typical home sold in just 19 days, a record low.
  • 49% of homes sold above
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As consumer confidence rebounds and the job market picks back up, the 2021 spring home buying season is on track to outpace trends seen in 2019 and 2018.

A new report by CoreLogic, a property data and analytics provider, finds that Millennials lead the home buying charge with older Millennials seeking move-up purchases and younger Millennials entering peak home buying years.

“Despite the severe slowdown last year, the 2021 spring home buying season is trending strong — reflecting the many positive signs of economic recovery,” said Frank Martell, president and CEO of CoreLogic. “With prospective buyers continuing to be motivated by historically low mortgage rates, we anticipate sustained demand in the summer and early fall.”

Nationally, CoreLogic

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If you’re one of the many homebuyers having trouble finding a house these days — at least one in your price range — there just may be a light at the end of the tunnel.

 

According to a new survey of over 100 economists, there should be a boost in housing supply not too far down the road. 

 

When exactly? The majority of those surveyed said inventory growth should return to normal by the second half of this year. Another quarter said early next year. 

 

Either way, it should be a boon to buyers, offering a break from the countless bidding wars and ever-rising prices seen in the last few months. In fact, according to the survey, most economists think home price growth will slow to just 4.5% this year. (Prices are currently up more than 10%

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Home prices in the Seattle area have gone up significantly over the past year during the coronavirus pandemic.

Low inventory and high buyer demand has lead to competition over the few homes on the market, driving the already expensive home prices in the area even higher.

According to a new study from PropertyShark, Seattle homes that were sold in 2009 were resold in 2019 at a more than 50% higher median price. Seattle ranked ninth among cities with the highest home price gains over the course of the decade, according to the study.

"Bookended by the 2008 crash and COVID-19, the decade between 2009 and 2019 was a transformative one for the real estate industry," the report said. "Curious to see how the housing market had fared between the two most

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