Author Archives

by

National Housing Snapshot for June 2025



According to NAR Chief Economist Lawrence Yun, “Multiple years of undersupply are driving the record high home price. Home construction continues to lag population growth. This is holding back first-time home buyers from entering the market. More supply is needed to increase the share of first-time homebuyers in the coming years even though some markets appear to have a temporary oversupply at the moment.”

Total Existing-Home Sales for June

  • 2.7% decrease in total existing-home sales month-over-month to a seasonally adjusted annual rate of 3.93 million.
  • No change in sales year-over-year.

Inventory in June

  • 1.53 million units: Total housing inventory, down 0.6% from May and increased 15.9% from June 2024 (1.32 million).
  • 4.7-month supply of unsold inventory, up from 4.6 months in May and 4 months in June 2024.

Median Sales Price in June

  • $435,300: Median existing-home price for all housing types, up 2% from one year ago ($426,900) — a record high for the month of June, and the 24th consecutive month of year-over-year price increases.

Read more details here…

Source: National Association of REALTORS® 7/23/25




by

What Percentage of Your Paycheck Should Go To Your Mortgage Payment?


The road to homeownership has been a challenge for many Americans—stubborn mortgage rates and inflation keep this dream out of reach for many. And for those who can afford a home, not ending up “house poor” is also key.

Read more…





by

Washington State NWMLS Market Update for June 2025



Market Recap

Inflation and unemployment concerns prompted the Federal Reserve to maintain the federal funds rate at its current level, “giving a general indication of trends that may affect mortgage rates,” said Steven Bourassa, director of the Washington Center for Real Estate Research (WCRER). Mortgage rates remain stubbornly high at 6.77%, making affordability a challenge for prospective buyers. “The continued anticipation of inflation and concerns about increasing government debt suggests that mortgage interest rates are not likely to go down any time soon,” continued Bourassa.

Selma Hepp of Cotality indicated that though mortgage rates may be daunting, the “increase in the availability of homes for sale and the softening of home prices” indicates the NWMLS service area “is experiencing a re-balancing of housing market trends.”

“As prices moderate, opportunities open up for buyers who have been priced out, which may help stabilize the home market,” continued Hepp.


Key Takeaways

Active Listings

  • There was a 38.82% increase year-over-year in the total number of properties listed for sale in the NWMLS service area, from 14,393 in June 2024 to 19,837 active listings in June 2025. When compared to May 2025, June experienced an 8.34% increase from 18,310 listings.
  • All 27 counties in the NWMLS service area experienced double-digit, year-over-year increases in active listings.
  • The six counties with the highest increases in active inventory were Columbia (+70%), Grant (+61.59%), Snohomish (+50.96%), Whatcom (+49.02%), King (+46.69%) and Adams (+46.51%).

Closed Sales and Months of Inventory

  • The number of closed sales increased by 1.01% year-over-year, up from 6,627 in June 2024 to 6,694 in June 2025. When compared to the previous month, the number of closed sales increased by 3.51%, up from 6,467 sales in May 2025.
  • A balanced market is considered to be 4 to 6 months by most industry experts. At the current rate of sales, it would take a little less than 3 months (2.96) to sell every home that is active in the NWMLS inventory. The six counties with the lowest months of inventory in June 2025 were Kitsap (2.05), Snohomish (2.12), Thurston (2.19), Pierce (2.65), King (2.72) and Skagit (2.9).

Median Sales Price and Total Dollar Value

  • Overall, the median price for residential homes and condominiums sold in June 2025 was $670,000, a slight increase of 3.08% when compared to June 2024 ($650,000). When compared to last month, the median price increased 1.52% from $660,000 in May 2025.
  • The three counties with the highest median sale prices were San Juan ($1,035,000), King ($913,563) and Snohomish ($775,000), and the three counties with the lowest median sale prices were Columbia ($275,000), Adams ($320,000) and Ferry ($340,000).

Source: NWMLS 7/3/25



by

What to Consider Before Installing Smart Locks


Smart home locks offer enhanced security and convenience, but homeowners should consider several factors before installation. Options include keypad, biometric and Wi-Fi-enabled locks, each with unique features. Compatibility with existing home systems, security features such as encryption and two-factor authentication, and power sources are crucial considerations.

Read more…

by

National Housing Snapshot for May 2025



Latest News

Existing-home sales ticked up by 0.8% from April to a seasonally adjusted rate of 4.03 million in May 2025. Year-over-year, sales declined 0.7%.

According to NAR Chief Economist Lawrence Yun, “The relatively subdued sales are largely due to persistently high mortgage rates. Lower interest rates will attract more buyers and sellers to the housing market. Increasing participation in the housing market will increase the mobility of the workforce and drive economic growth.”

Month-over-month

  • 0.8% increase in existing-home sales — seasonally adjusted annual rate of 4.03 million in May.
  • 6.2% increase in unsold inventory — 1.54 million units equal to 4.6 months’ supply.

Year-over-year

  • 0.7% decrease in existing-home sales.
  • 1.3% increase in median existing-home sales price to $422,800.

Read more details here…

Source: National Association of REALTORS® 6/23/25




by

The Five-Year Rule for Home Price Perspective


Headlines are saying home prices are starting to dip in some markets. And if you’re beginning to second guess your plans based on what you’re hearing in the media, here’s what you need to know.




by

Washington State NWMLS Market Update for May 2025



Market Recap

The real estate market continued to experience significant growth in housing inventory across NWMLS’s coverage area. While buyer activity showed some signs of seasonal strength, it continued to lag behind the surge in new and active listings. Buyers may be slow to accepting what may be a new normal, with mortgage rates continuing to hover close to 7% and construction costs hampering new developments.

Still, May brought some encouraging signs for buyers. The number of active listings reached 18,310, marking the highest level of inventory since September 2018 when there were 19,256 homes on the market. In addition, prices showed signs of stabilizing: the median home price declined 1% year-over-year and edged up less than 1% from April, indicating a slowdown in price growth. This increase in supply gives buyers more options and may help ease some competitive pressure.


Key Takeaways

Active Listings

  • There was a 42.63% increase year-over-year in the total number of properties listed for sale in the NWMLS service area, from 12,837 in May 2024 to 18,310 active listings in May 2025. This was also a 26.6% increase from 14,459 active listings in April 2025.
  • The number of homes for sale year-over-year increased throughout the NWMLS coverage area, with 24 out of 26 counties seeing a double-digit year-over-year increase. The six counties with the highest increases in active inventory were Clallam (+72.5%), Snohomish (+64.1%), Ferry (+59.1%), King (+57.7%), Grant (+53.3%) and Adams (+52.3%).

Closed Sales

  • The number of closed sales decreased by 3.3% year-over-year, down from 6,689 in May 2024 to 6,467 in May 2025. When compared to the previous month, the number of closed sales increased by 9.9%, up from 5,887 sales in April 2025.

Median Sales Price

  • Overall, the median price for residential homes and condominiums sold in May 2025 was $654,995, a slight decrease of 0.8% when compared to May 2024 ($660,000). When compared to last month, the median price slightly increased ($650,000 in April 2025).
  • The three counties with the highest median sale prices were King ($865,000), San Juan ($831,000) and Snohomish ($785,000), and the three counties with the lowest median sale prices were Ferry ($138,000), Columbia ($256,000) and Pacific ($323,000).

Source: NWMLS 6/4/25



by

12 Remodeling Projects That Offer the Best Value at Resale


The home remodeling boom continues, as homeowners leverage their equity to take on a range of house projects, large and small. But are they choosing the best projects to help boost their home’s resale value?

A fancy kitchen upgrade or bathroom renovation may have a significant impact on potential buyers. But for projects that recoup most or all of their cost, owners should think smaller, according to the newly released 2025 Remodeling Impact Report, conducted by the National Association of REALTORS® and the National Association of the Remodeling Industry. Swapping out the front door for steel, for example, is likely to get the most bang for the buck.

Read more…




by

National Housing Snapshot for April 2025



Existing-Home Sales Edged Lower by 0.5% in April

Existing-home sales slid 0.5% in April to a seasonally adjusted annual rate of 4.00 million. Sales retreated 2.0% from one year ago.

The median existing-home sales price rose 1.8% from April 2024 to $414,000, an all-time high for the month of April and the 22nd consecutive month of year-over-year price increases.

The inventory of unsold existing homes bounced 9.0% from the previous month to 1.45 million at the end of April, or the equivalent of 4.4 months’ supply at the current monthly sales pace.

Read more details here…

Source: National Association of REALTORS® 5/22/25




by

Future-Proofing Bathrooms


Check out family-friendly showers and “future-proofing,” and what the latest home trends tell us about people’s approach to bathing.

Read the full article…