Southwest King County Housing Update - Resale Only
KEY MARKET INDICATORS JUNE 2022 (May Recap)
Strength Remains Through Intensity Adjustment
There is continued strong sales activity in the Southwest King County 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. Though there is still a steady backlog of buyers in the market, the increase in inventory means each home will receive fewer offers and may not go pending the first weekend. Seasonal home price flattening is also in play, which means premium pricing is off for most properties.
SALES ACTIVITY INTENSITY™ SCALE
6.06%
4.13%
4.35%
2.89%
UNBELIEVABLE INTEREST RATES
3.18%
MONTHS SUPPLY SCALE
CLOSE
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.
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