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Key Market Indicators – August Recap 2020
Seattle Housing Update - Resale Only
In Seattle, the number of new listings in Aug. 2020 substantially outpaced new listings in Aug. 2019, creating a better environment for buyer selectivity. This led to a record number of homes going under contract this past month. Buyers will find the greatest selection of new listings coming on the market this September and October, until next March.
Luxury sales activity in Seattle is very strong, with frenzy-level sales activity intensity from $1 to $1.5 million, surge sales activity intensity from $1.5 to $2 million, and strong sales activity intensity from $2 to $5 million.
One Word: WOW!
Average % of
New Listings (Pending)
in the First 30 Days
Unbelievable Interest Rates
Source: Mortgage News Daily
65%
Current
2.88%
30%
Normal
Many current and prospective homeowners are curious about how real estate is faring in today’s economy. Historically low interest rates and strong buyer demand has made the real estate market a bright spot in the national economy.
Recently, Lawrence Yun, the National Association of REALTORS (NAR) chief economist, noted that there are no indications real estate activity will wane any time soon, as the true V-shaped sales recovery continues.
V-Shaped Sales Recovery is Underway in Real Estate
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