Good Time to Buy Seattle Real Estate?
By J. Casey Losh, CEO
(Ewing and Clark)
Is it a good time to buy Seattle real estate? The NWMLS, including the Greater Seattle real estate market, has seen some positive signs for both homebuyers and homeowners. For instance, at the end of February there was 1.7 months of housing supply across the NWMLS. Traditionally, 4 to 6 months is an even market, so that indicates a sellers’ market. However, last February inventory was at 0.7 months, so in comparison it feels more like a buyers’ market. Pending sales are down 19% and closed sales are down 17.3% from a year ago so there are less transactions, but with about one-third fewer new listings added this February as compared to the previous February the inventory remains tight. Not historically tight, but tight nonetheless.Buyers can be encouraged since there has been a mod...