MAY 2024
REAL ESTATE NEWSLETTER
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Will April's Stats Predict The Rest Of The Year's Real Estate Market?
April 2024 was a Seller's Market!
Homes sold quickly and at competitive prices in April, creating a strong seller's market.
More houses were listed for sale compared to last year, and buyers snapped them up fast! The average time a house stayed on the market went down significantly compared to last year.
Overall, sellers enjoyed a good month, receiving close to or even above their asking price.
REAL ESTATE MARKET NEWS
The Washington housing market is showing signs of life as spring and summer buying season arrives. More people are buying and selling homes compared to last year. However, potential buyers are facing a hurdle: interest rates are higher now than they were in 2023. This could make it more expensive to afford a mortgage payment.
The good news is there are some positive signs. The number of homes available for purchase is increasing, which could help stabilize prices in the coming months. Overall, the Washington housing market is adapting to the new reality of higher borrowing costs. It may take some time for things to settle down completely, but activity is picking up.
Click the READ HERE button for more details and gain valuable insights into today's real estate market.
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EVENTS AND HIGHLIGHTS OF MAY
If you have any questions or comments you would like answered in next month's newsletter, email me at [email protected] and they will be included in the next market update.
OR if you would like more information on our unique systems and programs, call us at 425-236-6777 or visit our website www.GeorgeMoorhead.com
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