Author Archives

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Homelessness is a Housing Problem, by Gregg Colburn and Clayton Page Aldern



I just finished listening to this book and HIGHLY recommend it! If you’ve ever wondered what leads to homelessness and why rates vary across different regions in the country, the authors completed a statistical analysis that includes the Seattle – King County region. As the title states, they found that housing market conditions, including the cost and availability of rental housing, account for the variations much more than what many people think. The authors propose solutions and explain why we must become more proactive rather than reactive.




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National Housing Snapshot for January 2025


January 2025 brought 4.08 million in sales, a median sales price of $396,900, and 3.5 months of inventory. The median sales price is up 4.8% year-over-year, and inventory was up 0.5 months from January 2024.

Read more details here…

Source: National Association of Realtors 2/21/25




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28005 150th Pl SE, Kent, WA 98042


$638,950

3 bedrooms; 2.5 bathrooms; 1,660 square feet

This beautifully maintained, move-in-ready home is a true gem! Featuring a brand-new roof, fresh carpet upstairs & newer exterior paint, it offers the perfect blend of style, comfort & peace of mind! The main level boasts durable LVP flooring, and an inviting, open floor plan filled with natural light. Stay cozy & energy-efficient with a gas fireplace, furnace & new water heater. You’ll appreciate the rounded corners throughout, versatile loft, skylight & the mostly finished bonus room in the converted third garage bay. The partially fenced, level backyard offers garden boxes & a shed-perfect for outdoor enjoyment. Nestled in an attractive neighborhood near Lake Meridian, with easy access to shopping in Kent & Covington, this is a must see!

A link to more details, photos, floor plan and the 360 degree tour on my website…

Sold 3/24/25 for $655,000



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Updated Forecast for 2025



Analysts are now anticipating just one rate cut in 2025, versus the two previously forecast. Some have even suggested that the Fed may not cut rates at all this year. This means that new homeowners and prospective buyers shouldn’t expect mortgage rate relief anytime soon. Also, with the lack of housing supply and demand expected to increase, housing prices are expected to continue to increase.





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Final Walk-Through Red Flags


Final walk-throughs can uncover problems that could delay closing. Most walk-throughs go smoothly, but it’s useful to know what to watch for and how to resolve issues quickly.

Read the details…




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Flashback to 1995 in the Housing Market vs Today



The housing market of 2024 mirrored some striking similarities to 1995, marking the lowest existing-home sales in nearly 30 years. However, the real estate landscape has changed dramatically.

Read how…




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90% of Markets Saw Home Price Gains in Fourth Quarter



Home prices finished 2024 strong, NAR data shows. But in the last five years alone, median home prices have jumped 50%.

Property owners are getting richer as home prices prove resilient against lower home sales. Nearly 90% of metro areas registered home price increases in the final quarter of 2024, according to the latest housing data from the National Association of REALTORS®. Fourteen percent of the 226 metros NAR tracks posted double-digit price gains, up from 7% in the third quarter.

Read more…



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Washington State NWMLS Market Update for January 2025



Market Recap

Traditionally a quieter month in the winter season, January’s activity continued the year-over-year growth trends observed in market activity over the last twelve months. The number of closed sales increased by 10.8% year-over-year (3,727 in January 2025 compared to 3,364 in January 2024), and NWMLS brokers added 6,693 new listings to the database in January 2025, an increase of 35.1% compared to January 2024 (4,954).

“For-sale inventories are continuing to rise from historical lows, and that’s helping bring some life to housing market activity in the NWMLS area,” said Selma Hepp, chief economist at CoreLogic.

But questions still abound regarding one of the most critical aspects of today’s market – affordability – and the political and economic factors that influence it.

“Both prices and interest rates continued to increase, having a negative effect on affordability,” said Steven Bourassa, director of the Washington Center for Real Estate Research (WCRER) at the University of Washington. “The median price rose by nearly 4% to $615,000, while interest rates rose from 6.69% at the end of January 2024 to 6.95% now.”

“Moreover, new immigration policies are expected to have an inflationary impact on home construction costs,” he continued, “And the National Association of Home Builders has warned that tariffs on imports from Canada and Mexico would have a significant impact on materials such as lumber and gypsum, while multiple researchers have documented the possible impact of immigration policy on labor supply for home builders.”

“All of this suggests that the affordability of homeownership, which has been declining, will continue to do so,” said Bourassa.

Key Takeaways

Active Inventory for Sale

  • The number of homes for sale increased 44.6% year-over-year throughout the NWMLS coverage area, with 22 out of 26 counties seeing a double-digit increase compared to January 2024. There were 10,241 active listings on the market at the end of January 2025, compared to 7,084 at the end of January 2024.
  • The five counties with the highest increases in active inventory for sale were Snohomish (+96.9%), King (+62.6%), Skagit (+54.4%), Kittitas (+53.8%) and Grant (+48.8%).
  • At the current rate of sales, there are less than three months (2.75) of available inventory.

Closed Sales

  • There were 3,727 closed sales of residential homes and condominium units in January 2025, an increase of 10.8% when compared to January 2024 (3,364).

 Median Sales Price

  • The median price for residential homes and condominiums increased by 3.6% year-over-year from $593,500 in January 2024 to $615,000 in January 2025.
  • The three counties with the highest median sale prices were San Juan ($850,000), King ($799,000), and Snohomish ($748,752), and the three counties with the lowest median sale prices were Ferry ($239,000), Okanogan ($318,000) and Grays Harbor ($329,000).

Source: NWMLS 2/5/2025



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Interior Designers Weigh in on Artificial Plants


Artificial plants can be a practical alternative to real ones, especially in spaces with limited sunlight or for people who travel frequently, according to interior designer Laetitia Laurent. Designer Erica McLain suggests using preserved or dried botanicals as a more authentic option and advises choosing faux plants that mimic natural imperfections and pairing them with natural elements, such as stones and raw woods.

Read more…




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WA REALTORS Legislative Day – January 30, 2025


On Thursday the 30th, along with almost 700 other WA Realtors, I met with Legislators in a few districts to discuss the bills we support, oppose, and why. This was extremely important as our government works to close a huge budget shortfall, but we need expanded housing options and to make homeownership more accessible and affordable in WA.

For details about WA REALTORS’ policies: https://warealtor.org/advocacy-legal/government-affairs/legislation