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Found 12 entries for July, 2022.

Weekly Review
Newsletter - 07/25/2022

Week of July 18, 2022 in Review

The latest housing data shows that while homebuyer activity may be slowing, demand remains strong. Meanwhile, homebuilders continue to face a backlog, and Jobless Claims are on the rise. Here’s what you need to know:

  • More to Existing Home Sales Data Than Meets the Eye
  • Builders Cautious About Future Sales
  • Construction Data Shows Continued Backlog
  • Initial Jobless Claims Top 250,000 for the First Time This Year

More to Existing Home Sales Data Than Meets the Eye

Related Links: Real Estate Weekly Report - Housing Market Remains Strong

Existing Home Sales fell 5.4% from May to June, coming in at a 5.12 million unit annualized pace and worse than

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Weekly Review
Newsletter - 07/19/2022

Week of July 11, 2022 in Review

Inflation continues to soar on the consumer and wholesale levels while there are more signs that our economy is slowing. Here are last week’s key stories:

  • Consumer Inflation Remains Blistering Hot
  • Producer Inflation Also Higher Than Expectations
  • Are Jobless Claims the “Canary in the Coal Mine?”
  • More Economic Slowdown Signals
  • Housing Market Remains Strong

Consumer Inflation Remains Blistering Hot

The Consumer Price Index (CPI), which measures inflation on the consumer level, rose 1.3% in June. This was even higher than the 1.1% increase expected. On an annual basis, inflation rose to a new cycle high from 8.6% to 9.1%, the largest 12-month increase since

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Weekly Review
Newsletter - 07/11/2022

Week of July 4, 2022, in Review

Week of July 4, 2022, in Review

The Jobs Report for June appeared strong on the surface, but that’s not the whole story. Annual home price appreciation remained over 20% in May. Here’s what you need to know:

  • A Tale of Two Jobs Reports
  • Do Jobless Claims and Job Openings Signal a Slowdown?
  • A Note on Private Sector Payroll Reporting
  • Home Prices Up 20.2% Annually in May

A Tale of Two Jobs Reports

 

The Bureau of Labor Statistics (BLS) reported that there were 372,000 jobs created in June, stronger than the expectations of 250,000 new jobs. However, there were negative revisions to the data for April and May removing 74,000 jobs in those months

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Over the past few year’s buyers within the Washington housing market have been taking hit after hit. Back in 2020 through 2021 buyers were faced with the lowest inventory of homes Washington has ever seen. This was then coupled with an excess of other buyers all trying to lock in a sub 3% rate. These factors led to bidding wars of hundreds of thousands over asking price and buyers having to submit offers on close to ten homes before acceptance.

Then another punch in the nose befell home buyers. Just as inventory began creeping up so did interest rates. “Experts are forecasting that the 30-year, fixed-mortgage rate will vary from 5% to 7% by the end of 2022. Here are their more detailed predictions, as of late May 2022:” (Forbes). Some say

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Weekly Review
Newsletter - 07/05/2022

Week of June 27, 2022 in Review

Consumer inflation remained near a 40-year high, and home purchase activity stayed strong in May. Home prices also continued to rise in April. Here’s what you need to know:

  • Consumer Inflation Remains Near 40-Year High
  • Home Purchase Activity Still Standing Strong
  • Home Price Appreciation Remained Hot in April
  • Final First Quarter GDP Reading Sparks More Recession Fears
  • Keeping an Eye on Jobless Claims

Consumer Inflation Remains Near 40-Year High

The Fed’s favorite measure of inflation, Personal Consumption Expenditures (PCE), showed that headline inflation rose 0.6% in May, slightly below the estimates of 0.7%. The year over year reading remained near a

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Compared to a year ago, Northwest MLS (NWMLS) brokers reported:

  •          Significant jump in inventory,
  •          double-digit drops in both pending and closed sales
  •          And the smallest year-over-year (YOY) increase in prices since June 2020.

What the changes mean in general terms are:

  •          More houses on the market
  •          Longer market times
  •          Stabilizing home prices
  •          Fewer showings and open house visitors
  •          Fewer offers at one time
  •          And more price adjustments

KIRKLAND, Washington (July 6, 2022) – Housing statistics from Northwest Multiple Listing Service for June show signs of a shifting market, creating opportunities for some buyers. Compared to a year ago,

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The NW housing market is changing - while we are not near a balanced market things are looking up for buyers as the market continues to correct itself - 

Compared to a year ago, Northwest MLS (NWMLS) brokers reported:

  •          Significant jump in inventory, 
  •          Double-digit drops in both pending and closed sales
  •          And the smallest year-over-year (YOY) increase in prices since June 2020.

What the changes mean in general terms are:

  •          More houses on the market
  •          Longer market times
  •          Stabilizing home prices
  •          Fewer showings and open house visitors
  •          Fewer offers at one time
  •          And more price adjustments

KIRKLAND, Washington (July 6, 2022) – Housing

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Compared to a year ago, Northwest MLS (NWMLS) brokers reported:

  •          Significant jump in inventory,
  •          double-digit drops in both pending and closed sales
  •          And the smallest year-over-year (YOY) increase in prices since June 2020.

What the changes mean in general terms are:

  •          More houses on the market
  •          Longer market times
  •          Stabilizing home prices
  •          Fewer showings and open house visitors
  •          Fewer offers at one time
  •          And more price adjustments

KIRKLAND, Washington (July 6, 2022) – Housing statistics from Northwest Multiple Listing Service for June show signs of a shifting market, creating opportunities for some buyers. Compared to a year ago,

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High Impact Real Estate Marketing & 4% Total Commissions For Today’s Home Sellers

The Cascade Team Real Estate is a company like no other because of the marketing, service and home seller savings we provide. We understand that in today’s real estate & home selling environment, we need to provide a high level of real estate service and widespread marketing of the home for sale, utilize technology to keep our home seller clients in the communication loop and provide added value to both buyers and home sellers in the real estate transaction. The effective use of technology tools allows our local real estate agents to focus more of their time on servicing our clients and finding buyers for your home, all the while providing the most comprehensive

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Tomorow is the biggest party of the summer, the 4th of July.  Just about everyone will be doing something to celebrate America's birthday and most lilely this will invlove a party or BBQ at someones home.  

At Greer Real Estate we want to wish everyone a safe and fun 4th of July weekend and we want to pass along some tips for keeping your home and family safe during the celebration.

Fireworks: One of the time-honored traditions of this festive holiday is lighting off fireworks. If you will be igniting fireworks at your home make sure a responsible adult is supervising the task. Also make sure you have a fire extinguisher or hose nearby to douse any flames out and don’t light fireworks near dry grass. Never aim

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