Yes, interest rates are still low. The counterargument: It’s a sellers’ housing market.  It is a complex time to be a young home buyer. Mortgage rates are near-historic lows, which is luring many people—including first-time buyers—into the housing market. In 2020, sales of previously owned homes surged to their highest level in 14 years, and […]

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, […]

This has been such a remarkable year so far and the June market report shows more of the same astonishing results. For the Eastside: • Median closed sales price $1,298,475 (up 37% over 2020) • 78% of homes sold for over the list price with an average of 4 days on the market • The […]

If you’re involved in the housing market, and I assume that most of you are, you know very well that this is a numbers business. All of us are surrounded by housing-related data day in and day out, and it can become a little overwhelming at times — even for an economist like myself. Well, today I’d […]