Inventory continues to rise in both NW Seattle and SW Snohomish County. New listings were up by 17% in NW Seattle and nearly 14% in SW Snohomish this past two weeks. Most likely some Sellers pushed to get their homes on the market before the 4th of July holiday week. This upcoming week there will be a lull in new listings and most likely a fairly large number next week.
Unfortunately for Sellers in NW Seattle Buyer activity was down for the past two weeks. Homes going under contract were down by 16%. SW Snohomish has been more consistent throughout June.
The market has cooled since mid-May when Moodys downgraded the US’ credit rating. This caused mortgage interest rates to go up. Fortunately, interest rates have recently come down. There is even a bit a speculation that possibly the Fed will cut rates at the July meeting. Fingers crossed that will happen!
We hope everyone has a safe and lovely long holiday weekend! The weather is looking promising.
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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