Inventory continues to climb in both NW Seattle and SW Snohomish County as new listings outpaced homes going under contract. We have been highly focused on watching the number of homes going under contract to gauge whether Buyers might be getting nervous about the more recent economic news. In NW Seattle listings going under contract were up by 15.7% over the previous two weeks. However, SW Snohomish is down by 20%. Obviously, with the two markets showing different short-term data, it is hard to come to any conclusions at this point.
Interest rates have come down over the past two weeks as institutional investors move from the volatility of the stock market to the safety of the bond market. While the overall reason for the lowering of interest rates isn’t welcome news for Buyers, the reduction in mortgage rates certainly is. This is the lowest interest rates have been in 6 months. Which, hopefully, Buyers will take advantage of!
And as always, if you have any additional real estate questions, feel free to call/text us any time! We’re always here to help!
STEVE HILL
Broker | REALTOR®
CELL 206-769-9577
SANDRA BRENNER
Managing Broker | REALTOR® | MCNE | SRS | CRS®
CELL 206-271-7100
WINDERMERE REAL ESTATE / NORTHWEST
311 N 85th St
Seattle, WA 98103
MAIN (206) 527-5250
brennerhill.com
Equal Housing Opportunity
