Take a look at real estate trends around King County as we explore insights from the first quarter of 2020.
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Realogics Sotheby’s International Realty proudly presents its annual summary of the Real Estate Market in Western Washington. Each year, this report reflects on how the news events of the past year could economically impact the home buying and selling process. It also offers key insights from nine counties and 37 communities around the Puget Sound, providing an in-depth analysis of data, information, factors in trends, news, and events that make an impact on our local housing market.
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Coronavirus aid, relief, and economic security act—what can we expect? The $2 trillion economic relief plan brings a variety of aid to U.S. citizens in an attempt to spur growth for local communities.
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It’s been in the news for awhile—mortgage rates are low. And not just low, they’re really low—the lowest they’ve been in more than three years.
But even though rates are low, they do vary from buyer to buyer and you’re not guaranteed the low rate you see posted online. A recent case study by Lending Tree confirmed what expert real estate agents have always passed along to their clients: Comparison shopping is extremely important—no matter how low the rates seem to go.
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November surprised the real estate market with a strong favor for home sellers. The Northwest Multiple Listing Service (NWMLS) released data on the month of November which showed a 7% year-over-year increase in pending sales. This increase across King, Pierce, and Snohomish County jumps to 9.2% when considering mutually accepted offers.
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According to Lawrence Yun of the National Association of Realtors, it’s likely that the sale of new homes will rise to a 13-year high in 2020, jumping 11 percent. This jump is significant even when compared with an anticipated 3.7 percent increase in existing home sales by 2020.
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As real estate’s hottest season is coming to a close, sellers can take advantage of the last push through busy season by making their homes stand out amongst the crowd. Competition may be up but these tips will make sure you can catch the eye of potential buyers before fall arrives.
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