Real Estate Market Movement
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Learn about local real estate and housing market trends from The Cascade Team Real Estate.
Found 158 entries about Real Estate News.
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KIRKLAND, Washington (May 4, 2023) – Market dynamics are influencing adjustments in housing prices, suggested an officer at Northwest Multiple Listing Service, but with “very constricted” inventory, he said homes that are well priced continue to receive multiple offers.
Commenting on the latest statistics from Northwest MLS, Frank Leach, vice chairperson of the MLS board of directors and the broker/owner at RE/MAX Platinum Services in Silverdale, said despite limited inventory (about 1.5 months of supply overall), it is an “excellent market.” As summer approaches, Leach expects to see increased activity with inventory “being snapped up as it comes onto the market and savvy buyers taking advantage of softening interest rates.”
The latest report…
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Mortgage rates trended lower last week despite strong jobs data and another federal funds rate hike from the Federal Reserve. Construction spending increased in March, while job openings fell to the lowest level in two years. Mortgage application submissions decreased, and ADP nonfarm employment was higher than expected in April. Continuing jobless claims fell while initial jobless claims increased. The employment situation was better than expected in April.
MORTGAGE RATES CURRENTLY TRENDING
THIS WEEK'S POTENTIAL VOLATILITY
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Mortgage rates trended lower toward the beginning of last week. Home price appreciation climbed slightly in February. New home sales jumped in March. Mortgage application submissions increased. Continuing jobless claims decreased and initial jobless claims decreased. The Q1 GDP estimate for 2023 fell. Core inflation rose, personal income remained unchanged, and consumer spending rose.
MORTGAGE RATES CURRENTLY TRENDING
THIS WEEK'S POTENTIAL VOLATILITY
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KIRKLAND, Washington (April 6, 2023) – Real estate brokers around Washington state say the market is moving in a positive direction with the spring market “finally showing up in March.”
Newly-released statistics from Northwest Multiple…
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Weekly Review
Newsletter - 03/13/2023
Week of March 6, 2023 in Review
A deeper look at labor sector data shows the job market may be weaker than the headlines suggest. Plus, the latest forecast on home price appreciation and the Fed’s vow regarding inflation:
Jobs Data Shows Cracks in the Labor Sector
The Bureau of Labor Statistics (BLS) reported that there were 311,000 jobs created in February. While this was stronger than estimates, revisions to the data from December and January…
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Weekly Review
Newsletter - 03/06/2023
Week of March 6, 2023 in Review
Contract signings for existing homes surged in January while the latest appreciation data for December addressed concerns about a housing bubble. Read on for these important stories, plus news on unemployment claims and manufacturing:
Pending Home Sales Rose for Second Straight Month
Pending Home Sales rose 8.1% from December to January, which was much stronger than expectations and follows the 1.1% gain in December. Sales were down 24.1% from a year earlier, though this…
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Weekly Review
Newsletter - 02/27/2023
Week of February 20, 2023 in Review
Sales of new homes and consumer inflation were both hotter than expected in January. Plus find out what the latest data on Existing Home Sales says about inventory and the demand for homes.
Consumer Inflation Higher Than Expected
The Fed’s favorite measure of inflation, Personal Consumption Expenditures (PCE), showed that headline inflation increased 0.6% in January, while the year-over-year reading rose from an upwardly revised 5.3%…
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The housing market today remains in a hazy no…
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Today’s housing market has everyone wondering: Is it still a seller’s market, or has the power dynamic finally shifted in favor of buyers?
Try neither.
Uncertainty about the future of inflation, the economy, mortgage rates, and more have seized up the market—and wrenched power away from buyers and sellers alike.
“Today, real estate is ‘nobody’s market,'” notes Realtor.com® Chief Economist Danielle Hale in her analysis of housing data. “The number of homeowners deciding to sell continues to lag, but inventory and time on market continue to climb, reflecting still-hesitant buyers.”
The real estate game is at a stalemate that shows no signs of budging anytime soon, with neither buyers nor sellers willing to make the first move.
Buyers…
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