NEWS & INSIGHTS
What’s Happening
Monthly Market Update
Northwest MLS report shows “typical August,” and return to more “normalized conditions”
In a report summarizing August activity, Northwest MLS figures showed a continued buildup of inventory – nearly double the selection of a year ago and more than three times the offerings at the end of the first quarter.
Industry News
One-third of declined mortgage applications qualified for homebuyer assistance
One of every three (33%) of declined loan applications were likely eligible for multiple homebuyer assistance programs, according to an analysis by Down Payment Resources (DPR). DPR’s analysis indicated a substantial share of mortgage loan applications were declined for reasons that could be addressed with homebuyer assistance. One-third of all [..]
Industry News
Housing affordability challenges face home buyers and renters
Describing the housing market as being at an inflection point, authors of The State of the Nation’s Housing 2022 expect both record-breaking home prices and rents to cool as interest rates climb. They also found troubling racial and ethnic disparities, along with persistent affordability challenges. This year’s report from the [..]
Industry News
Beat the heat without AC
Whether called heat advisories, excessive heat warnings, heat domes, or dangerous heat waves, scorching temperatures have millions of Americans clamoring for relief from record-breaking high temperatures. The U.S. Global Change Research Program says the warming climate means today’s heat waves last longer and are more intense. According to their latest [..]
Industry News
Fannie, Freddie roll out inaugural Equitable Housing Finance plans
Two government-sponsored enterprises (GSEs) unveiled their first Equitable Housing Finance (EHF) plans in early June. In announcing the plans, the Federal Housing Finance Agency (FHFA) said they are designed to address barriers experienced by renters, aspiring homeowners, and current homeowners – particularly in Black and Latino communities. Included in the [..]
Industry News
Housing briefing for public officials explores solutions for attainable housing
To set the stage for a discussion on “missing middle housing,” featured speaker Karen Parolek presented some key data on shifting household demographics: Today, 30% of households are single persons; By 2025, 75-85% of households will not have children; By 2030, 1 in 5 Americans will be 65+; Increasingly, multi-cultural [..]
Industry News
Washington earns high marks for state economy, doing business
Washington earned first place for having the best state economy and was runner up in an annual ranking of “America’s Top States for Business in 2022.” Washington climbed seven spots in the CNBC list compared to 2021, with its healthy workforce, strong economy and booming technology and innovation sectors among [..]
Industry News
Seattle payroll tax will fund 1,700 affordable housing units from first year’s receipts
JumpStart Seattle, a payroll tax applied to high salaries, amassed more than $248 million in its first year. Those funds will be allocated to 17 groups serving low-income and homeless populations. Their combined projects will produce 1,700 affordable housing units. Seattle City Council members passed the JumpStart proposal by a [..]