Seattle Housing Update - Resale Only
KEY MARKET INDICATORS JUNE 2022 (May Recap)
Strength Remains Through Intensity Adjustment
There is continued strong sales activity in the Seattle real estate market as the intensity adjustment continues this spring. Locally, unsold inventory is ticking upward as more new listings hit the market. This gives buyers an increased selection of desirable properties to choose from as they hunt for their new home. Seattle luxury sales activity is still strong due to solid buyer demand for homes priced $1 million and above. May’s new resale luxury listings were up 29 percent compared to last year, and homes going under contract in May were up slightly from 2021.
SALES ACTIVITY INTENSITY™ SCALE
6.06%
4.13%
4.35%
2.89%
UNBELIEVABLE INTEREST RATES
3.18%
MONTHS SUPPLY SCALE
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As interest rates rise and homebuyers are looking to afford their home of choice, some are choosing an Adjustable-Rate Mortgage (ARM). This type of a home loan carries a lower interest rate initially which helps keep payments lower and then adjusts to the prevailing rate at predetermined intervals. Chat with your trusted mortgage partner to determine if an ARM is a fit for you.
ABOUT ADJUSTABLE-RATE MORTGAGES
