Market Advice

Market Advice, Video Blogs

March Eastside Stats

The shocking year-over-year number has arrived: prices are down 21%. Not to sound like a broken record, but remember the drop occurred between the April 2022 peak ($1.7M) to August 2022 ($1.35M). Since August, prices have flattened, dipped a bit in the 4th quarter, and then up 2% for 2 consecutive months in 2023. Additionally, […]
Market Advice

What Buyer Activity Tells Us About the Housing Market

Though the housing market is no longer experiencing the frenzy of a year ago, buyers are showing their interest in purchasing a home. According to U.S. News: “Housing markets have cooled slightly, but demand hasn’t disappeared, and in many places remains strong largely due to the shortage of homes on the market.” That activity can […]
Home Knowledge, Market Advice

An Expert Makes All the Difference When You Sell Your House

If you’re thinking of selling your house, it’s important to work with someone who understands how the market is changing and what it means for you. Here are five reasons working with a professional can ensure you’ll get the most out of your sale. 1. They’re Experts on Market Trends With today’s housing market defined by change, […]
Market Advice

The Two Big Issues the Housing Market’s Facing Right Now

The Two Big Issues the Housing Market’s Facing Right Now The biggest challenge the housing market’s facing is how few homes there are for sale. Mark Fleming, Chief Economist at First American, explains the root causes of today’s low supply: “Two dynamics are keeping existing-home inventory historically low – rate-locked existing homeowners and the fear of not finding something to buy.” […]

Market Advice March Eastside Stats The shocking year-over-year number has arrived: prices are down 21%. Not to sound like a broken record, but remember the drop occurred between the April 2022 peak ($1.7M) to August 2022 ($1.35M). Since August, prices have flattened, dipped a bit in the 4th quarter, and then up 2% for 2 consecutive months in 2023. Additionally, […]

Market Advice What Buyer Activity Tells Us About the Housing Market Though the housing market is no longer experiencing the frenzy of a year ago, buyers are showing their interest in purchasing a home. According to U.S. News: “Housing markets have cooled slightly, but demand hasn’t disappeared, and in many places remains strong largely due to the shortage of homes on the market.” That activity can […]

Home Knowledge An Expert Makes All the Difference When You Sell Your House If you’re thinking of selling your house, it’s important to work with someone who understands how the market is changing and what it means for you. Here are five reasons working with a professional can ensure you’ll get the most out of your sale. 1. They’re Experts on Market Trends With today’s housing market defined by change, […]

Market Advice The Two Big Issues the Housing Market’s Facing Right Now The Two Big Issues the Housing Market’s Facing Right Now The biggest challenge the housing market’s facing is how few homes there are for sale. Mark Fleming, Chief Economist at First American, explains the root causes of today’s low supply: “Two dynamics are keeping existing-home inventory historically low – rate-locked existing homeowners and the fear of not finding something to buy.” […]

Market Advice February Eastside Stats Median pricing crept-up 2% since last month but is down 13% year-over-year. (Note, year-over-year deprecation will continue through June or July.) Interestingly, King County’s year-over-year pricing is flat and Seattle is up 2%, (but, they both will have depreciation next month). Making an analogy, the Eastside was an intense roller coaster like California Screaming/Incredicoaster; whereas, […]

Economy Experts Forecast a Turnaround in the Housing Market in 2023 The housing market has gone through a lot of change recently, and much of that was a result of how quickly mortgage rates rose last year. Now, as we move through 2023, there are signs things are finally going to turn around. Home price appreciation is slowing from the recent frenzy, mortgage rates are coming down, inflation is easing, […]

Market Advice January Eastside Stats Stats this time of the year are always a bit wonky, as there aren’t many new listings and many homes expire/cancel, so the data isn’t ‘typical’. New and pending sales were about equal, but several listings expired/cancelled (many of these will be relisted), so inventory went down. Lower inventory is good for sellers but not […]

Market Advice Planning To Sell Your House? It’s Critical To Hire a Pro. With higher mortgage rates and moderating buyer demand, conditions in the housing market are different today. And if you’re thinking of selling your house, it’s important to understand how the market has changed and what that means for you. The best way to make sure you’re in the know is to work with a trusted housing market […]

Market Advice Prioritizing Your Wants and Needs as a Homebuyer in Today’s Market There’s no denying mortgage rates are higher now than they were last year. And if you’re thinking about buying a home, this may be top of mind for you. That’s because those higher rates impact how much it costs to borrow money for your home loan. As you set out to make a purchase this winter, you’ll […]

Market Advice How to Price Your Home for Sale It’s natural for sellers to want to get every step of the selling process right, but a successful home sale depends on an accurate listing price. Your agent will work closely with you to set the price, but in the meantime, you can use the following information to better understand what goes into this process. […]

Home Knowledge How To Prep Your House for Sale This Fall Today’s housing market is different than it was just a few months ago. And if you’re thinking about selling your house, that may leave you wondering what you need to do differently as a result. The answer is simple. Taking the time upfront to prep your house appropriately and create a solid plan can help […]

Home Knowledge Will My House Still Sell in Today’s Market? If recent headlines about the housing market cooling and buyer demand moderating have you worried you’ve missed your chance to sell, here’s what you need to know. Buyer demand hasn’t disappeared, it’s just eased from the peak intensity we saw over the past two years. Buyer Demand Then and Now During the pandemic, mortgage rates hit […]

Market Advice Is the Shifting Market a Challenge or an Opportunity for Homebuyers? If you tried to buy a home during the pandemic, you know the limited supply of homes for sale was a considerable challenge. It created intense bidding wars which drove home prices up as buyers competed with one another to be the winning offer. But what was once your greatest challenge may now be your greatest […]

Market Advice What Sellers Need To Know in Today’s Housing Market If you’re thinking about selling your house, you may have heard about the housing market slowing down in recent months. While it’s still a sellers’ market, the peak frenzy the market saw over the past two years has cooled some. If you’re asking yourself if you’ve missed your chance to sell your house and make a […]

Market Advice Why This Housing Market Is Not a Bubble Ready To Pop Homeownership has become a major element in achieving the American Dream. A recent report from the National Association of Realtors (NAR) finds that over 86% of buyers agree homeownership is still the American Dream. Prior to the 1950s, less than half of the country owned their own home. However, after World War II, many returning veterans used the benefits afforded by […]

Economy What You Can Expect from the Spring Housing Market As the spring housing market kicks off, you likely want to know what you can expect this season when it comes to buying or selling a house. While there are multiple factors causing some uncertainty, including the conflict overseas, rising inflation, and the first rate increase from the Federal Reserve in over three years — the housing market seems to be relatively immune. Here’s […]

Home Knowledge Why It’s Critical to Price Your House Right When you make a move, you want to sell your house for the highest price possible. That might be why many homeowners are eager to list in today’s sellers’ market. After all, with record-low inventory and high buyer demand, many homes are selling for more than asking price. Data from the National Association of Realtors (NAR) shows 46% of homes are selling above list […]

Market Advice How Supply and Demand Can Impact Your Buying and Selling Goals In today’s housing market, there are far more buyers looking for homes than sellers listing their houses. Based on the concept of supply and demand, this means home prices will naturally rise. Why is that? When there are more people trying to buy an item than there are making that item available for sale, that drives […]

Market Advice How To Win as a Buyer in a Sellers’ Market Some Highlights Even in today’s sellers’ market, there are still ways for buyers to win big. Build a team of trusted professionals and make strategic plays as you budget and pick your desired neighborhoods. Then, be ready for the competition by getting a pre-approval letter and leaning on your expert advisors to draft a winning offer. In a sellers’ market, […]

Home Knowledge Buyers Want To Know: Why Is Housing Supply Still So Low? One key question that’s top of mind for homebuyers this year is: why is it so hard to find a house to buy? The truth is, we’re in the ultimate sellers’ market, so real estate is ultra-competitive for buyers right now. The number of buyers searching for a home greatly outweighs how many homes are available for sale. […]