NEWS & INSIGHTS
What’s Happening
Industry News
Builders use buydown incentives to attract buyers
Three of every four home builders are buying down buyers’ mortgage rates, according to a survey by John Burns Real Estate Consulting. Builders are paying the costs up front by prepaying some of the buyers’ interest on the loan, thereby effectively reducing monthly payments and making the purchase more affordable. [..]
Industry News
Web app tracks Seattle’s proposed and permitted projects
Describing their creation as a “modern alternative to the Notice of Proposed Land Use boards” found at construction sites, the founder of Seattle in Progress, Ethan Phelps-Goodman, says he believes Seattle can lead the way in creating a city that is more livable, equitable and sustainable. “We believe that the [..]
Industry News
Northwest MLS tallies impressive achievements during 2022
Northwest Multiple Listing Service notched some impressive numbers during 2022. Its “Year in Review” report summarized various achievements spanning myriad services in the 26 counties it serves. A tally of system usage included 20 million Matrix sessions, 6.7 million TransactionDesk sessions, and 5.4 million Realist sessions. Showing Time and Authentisign [..]
Industry News
Drivers here not the worst, but also not worthy of bragging rights
Probably no one who has driven around Puget Sound or many other regions around Washington state would argue that traffic can be unpredictable. In fact, many may prefer expletives to describe it. Study after study confirms those negative perceptions: It could be worse. Hawaii has the dubious distinction of being [..]
Industry News
News In Brief
Out of all 50 states, Washington has been listed as the best state to retire in, according to research by Global Residence Index. The research used seven key factors to rank each of the 50 states, and Washington ranked in the top 10 for five of the seven factors. Air quality, [..]
Monthly Market Update
Northwest MLS brokers encouraged by declining mortgage rates with some saying pent-up demand is triggering multiple offers
Pending sales around Washington state reached the highest level since October and surged nearly 44% from December, according to the January report from Northwest Multiple Listing Service. Last month’s 5,776 mutually accepted offers were down about 9% from a year ago, but brokers seemed encouraged by the “favorable spike.” Prices [..]
Blog
Seven Easy DIY Home Repairs
Keeping up on simple repairs can add value to your home without breaking the bank. Check out these easy “Do it Yourself” repairs to keep your home in tip-top shape.
NWMLS In The News
Seattle Area’s Priciest Homes of 2022 Stand Out in a Cooling Market
Press Release
Northwest MLS brokers tally 84,037 sales during 2022 valued at almost $64 billion
Northwest Multiple Listing Service members reported 84,037 sales of single family homes and condominiums during 2022. Last year’s closings were valued at more than $63.8 billion, with single family homes accounting for about 90% of the total. The activity in the Northwest MLS report reflects the work of nearly 34,000 [..]