The NWMLS just came out with it's May update looking back at the market during April. Their headline "Brokers detect good news for home buyers, citing gains in listings and moderating prices" accurately describes what's going on. In terms of supply and demand, we saw more homes come on the market and that helped moderate bidding wars and pricing. Even with moderation, we're still in a seller market with less than a on- month supply of homes. Here are the points I found most relevant:

• Active listing increased 57% from the same month a year ago and 14% from this March to this April.
• In 16 of the 26 counties, had at least a 20% increase in active listings
• Pending sales increased 47% from the same month last year, but decreased 2.58% from this

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The Seattle Times was out with an article with the latest on the Seattle market and how pricing is still rising during the pandemic. I found this was particularly interesting:

Homes in the King, Pierce and Snohomish tri-county area saw average year-over-year price increases of 6.8% in May, according to the new release of the S&P CoreLogic Case-Shiller Home Price Index — the sixth consecutive month Seattle-area price growth has topped national averages.

This is not surprising. We are seeing good homes in popular locations selling fast, often with multiple offers. Inventory of homes for buyers to choose from is still tight. Buyers who are ready to make a move and want to learn how to beat the competition should check out our plan here.

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Klahanie Real Estate Trends

Here we are with the latest on how the market is going in Klahanie and there's a lot of great information to share in the infographic below. Generally speaking, we're still short on inventory of homes for buyers to choose from. While inventory is down,  other key indicators are all showing gains due to the tight market. Need some insight on how this info applies to your plans? Contact me. 

By the way, look at those average sold prices. If they sold with The Cascade Team's full service for 1% listing fees, a condo seller would have saved over $7,000. A home seller would have saved over $14,700!

Let's talk about the market. Contact me!

Some good news today that loan limits are increasing in King, Pierce and Snohomish counties.  That is good news for buyers and seller. I’ll tell you why, but first here is what is happening:

Loan limits will rise in 39 high-cost counties around the country in 2016, including three counties in Western Washington: King, Pierce and Snohomish.

Starting January 1, loan limits in the tri-county Puget Sound area will rise from $517,500 to $540,500, an increase of $23,000. 

Why is this good news? Housing in this area costs more than other parts of the country, so they increased the loan limits. Loans that are under the new $540,500 limit are called conforming loans. They have lower interest rates and in general are easier to qualify for.

Lower

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