Northwest Real Estate Team | Market News & Stats Blog

Friday, September 4, 2020   /   by Laura Lynn

The 2020 Homebuyer Wish List [INFOGRAPHIC]

Some Highlights

The word “home” is taking on a whole new meaning this year, and buyers are starting to look for new features as they re-think their needs and what’s truly possible.
From more outdoor space to virtual classrooms for their children, buyers have a growing list of what they’d like to see in their homes.
Let’s connect today if your needs have changed and your wish list is expanding too.


Want to discuss this further? Call us at 425-209-0204 or email laura@nwret.com 

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  northwest real estate, real estate, pnw, washington, housing supply, northwest real estate team, home buyer, economy

Thursday, September 3, 2020   /   by Laura Lynn

Homebuyer Demand Is Far Above Last Year’s Pace

Homebuying has been on the rise over the past few months, with record-breaking sales powering through the market in June and July. Buyers are actively purchasing homes, and the momentum is continuing into the fall. It is, however, becoming harder for buyers to find homes to purchase. If you’ve been thinking about selling your house, the coming weeks might just be the timing you’ve been waiting for.
According to the Pending Home Sales Report from the National Association of Realtors (NAR):

“Pending home sales in July achieved another month of positive contract activity, marking three consecutive months of growth.
The Pending Home Sales Index (PHSI), a forward-looking indicator of home sales based on contract signings, rose 5.9% to 122.1 in July. Year-over-year, contract signings rose 15.5%. An index of 100 is equal to the level of contract activity in 2001.”

This means that for the past several months, buyers ...

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  northwest real estate, real estate, real estate market statistics, pnw, housing supply, northwest real estate team, home buyer, economy, real estate statistics

Monday, August 31, 2020   /   by Laura Lynn

Three Ways to Win in a Bidding War

With so few houses for sale today and low mortgage rates driving buyer activity, bidding wars are becoming more common. Multiple-offer scenarios are heating up, so it’s important to get pre-approved before you start your search. This way, you can put your best foot forward – quickly and efficiently – if you’re planning to buy a home this season.
Javier Vivas, Director of Economic Research at realtor.com, explains:

“COVID-19 has accelerated earlier trends, bringing even more buyers than the market can handle. In many markets, fierce competition, bidding wars, and multiple offer scenarios may be the common theme in the weeks to come.”

Here are three things you can do to make your offer a competitive one when you’re ready to make your move.
1. Be Ready
A recent survey shows that only 52% of active homebuyers obtained a pre-approval letter before they began their home search.&nbs ...

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  northwest real estate, real estate, real estate news, real estate market statistics, washington, pnw, northwest real estate team, home buyer, economy

Friday, August 21, 2020   /   by Laura Lynn

Ask a Pro About Buying a Home [INFOGRAPHIC]

Some Highlights

According to trending data, searches for key real estate topics are skyrocketing online.
Clearly, lots of people have questions about buying a home, and other topics related to the process.
Working with a trusted real estate professional will help you create the most personalized and helpful experience. Let’s connect so you have the guidance you need along the way.

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  northwest real estate, real estate, real estate news, real estate market statistics, pnw, washington, northwest real estate team, housing supply, home buyer, economy

Wednesday, August 19, 2020   /   by Laura Lynn

Just How Strong Is the Housing Recovery?

The residential real estate market has definitely been the shining light in this country’s current economic situation. All-time low mortgage rates coupled with a new appreciation of what a home truly means has caused the housing market to push forward through this major health crisis. Let’s look at two measures that explain the resilience of the real estate market.
Purchase Mortgages
The number of buyers getting a mortgage to purchase a home is a strong indicator of the strength of a housing market. Below is a graph of the week-over-week percent change in that number, as reported by the Mortgage Bankers’ Association:The number dropped dramatically in March and mid-April when the economy was shut down in response to COVID. It increased substantially from later in April through the middle of June. The strong increase in May and June was the result of the pent-up demand from earlier in the spring along with the normal business that would ...

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  northwest real estate, real estate, real estate news, real estate market statistics, pnw, washington, northwest real estate team, home buyer, economy, home seller