Those searching for homes in Western Washington are now choosing “from the largest supply of homes in three years,” this according to the latest press release published by the Northwest Multiple Listing Service (NWMLS). As the report outlines, home price growth has slowed significantly, at 6.7 percent across all counties surveyed. This paired with inventory gains is alleviating some pressure on buyers in the market.
Read MoreThere was good news for Seattle-area homebuyers in the latest Northwest Multiple Listing Service Press Release, as April 2018 data revealed a slight increase in inventory. In all, “Northwest MLS brokers added 11,271 new listings to inventory during April, a gain of 6.3 percent when compared to March; and up nearly 5.9 percent versus a year ago.” Despite more homes on the market, just 6 of the 23 counties covered reported year-over-year inventory gains, and “King County was the only one in the Puget Sound region to notch a gain, up 13.6 percent from a year ago.”
Read MoreIn looking at data from last year’s home price growth and number of sales, one clear trend emerges: a lack of available homes for sale was a major theme in Seattle’s market. And as Curbed Seattle reports, “so far this year, inventory has been even more sparse,” as recent Northwest Multiple Listing Service (NWMLS) data shows that there was less than 1 month of available inventory in February, down from just over one month last year.
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