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Category: Industry News
Industry News
Builder confidence sinks amid growing affordability challenges
Growing affordability challenges are causing builder confidence in the housing market to erode, according to the National Association of Home Builders. NAHB believes these challenges are growing. The latest NAHB/Wells Fargo Housing Marketing Index (HMI) showed an eight point drop in builder confidence for newly built single-family homes in May, [..]
Industry News
Existing home sales shrink, price appreciation grows
Existing home sales around the country continued to slide in April, falling to the lowest level since June 2020. Analysts at the National Association of Home Builders attributed the decline to rising mortgage rates and higher home prices, stating that combination is pricing out first-time and young buyers. Citing data [..]
Industry News
Mandatory education on Fair Housing now in effect
Real estate licensees in Washington must complete a new 6-hour Fair Housing course under a law that went into effect on June 1. Additionally, only pre-approved schools or instructors may offer the mandatory course titled “Washington Real Estate Fair Housing (6-hr) (3-hr).” This is the only course approved to date. [..]
Industry News
News In Brief: June 2022
The Evergreen State ranked No. 1 as the best state for nurses, according to a recent WalletHub study. WalletHub said it compared all 50 states using 21 metrics and Washington took home the top spot, edging Maine, New Mexico, Minnesota, New Hampshire and Oregon, respectively. Some of the criteria included [..]
Industry News
Most King County property owners getting valuation notices with double-digit increases
Property owners in King County are receiving property valuation notices from the county Assessor’s Office. For most homeowners, it means a double-digit increase from their last notice, while owners of commercial properties will see little change. Notices are being mailed out over the next several months to all 720,000 residential [..]
Industry News
Seattle ranks high in three categories, but below-average on the environment
Seattle ranks among the top 10 large cities based on AARP’s recently redesigned Livability Index with a score of 60, placing it 8th on the list. The Emerald City notched strong performances in the transportation, neighborhood, and health categories, but was below the national average on its environment score. AARP [..]
Industry News
Affordable Housing Week: May 8 – 14 All in for Housing
Affordable Housing Week will be observed May 8-14 when the Housing Development Consortium hosts a stellar lineup of speakers and panelists who will discuss homelessness and affordable housing in King County. Now in its seventh year, this year’s event is focused on the theme “All in for Housing.” It will [..]
Industry News
Canada inposes 2-year ban on foreign homebuyers
Foreign buyers cannot buy homes in Canada for two years due to a government ban designed to cool the country’s overheated market. Average prices soared more than 50% during the past two years, to more than $868,400 (in Canadian dollars), according to the Canadian Real Estate Association. Along with blocking [..]
Industry News
Priced-out trend is real
The priced-out phenomenon is real, explained internationally acclaimed economist and syndicated columnist Elliot Eisenberg, in a recent blog. Dr. Eisenberg compared the median price of a house and interest rates in March 2021 and March 2022. In March 2021, the median price was $326,350 and the interest rate on a [..]
Industry News
News In Brief: May 2022
A recent Stessa report reported by KOMO News found what many Seattle-area residents already know: rent is pricier in the Emerald City than it is in just about any other metro. The report from Stessa – a finance tool that helps real estate investors “maximize their profits” with rental properties [..]