NEWS & INSIGHTS
What’s Happening
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
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
Real estate keeps #1 ranking as favorite for long-term investing
Real estate retained its top spot as American’s favorite long-term investment, according to a survey by Bankrate. That marked the third time in the past four years and sixth time in the past decade that respondents picked real estate for investing money they didn’t need for 10 or more years. [..]
Industry News
News In Brief: August 2022
Washington state is one of the nation’s best for wellness, according to a new study from lifeextension.com. The wellness company used 11 metrics across three main categories in all 50 states and the District of Columbia: physical and mental health, access to national parks and nature, interest in integrative health [..]
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 [..]
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 [..]
Monthly Market Update
Brokers say all parties in housing transactions need to recalibrate during shifting market
New statistics from Northwest Multiple Listing Service confirm reports of a shifting housing market, prompting one industry leader to suggest "all parties involved in a transaction today have to recalibrate."
Industry News
Can housing resuscitate dead malls?
Will housing be the salvation of malls? According to some reports, it is happening across the country and around Washington state, but with varying approaches. Once dormant or dead malls are being revitalized and repurposed to include mixed-use development. The transitions have been happening for years, if not decades, but [..]
Industry News
NWMLS again updates rules and forms to enhance transparency and flexibility for brokers and consumers
Revisions relate to broker compensation to promote innovation and competition Northwest Multiple Listing Service (“NWMLS”), building on updates implemented in 2019, announced additional revisions to its rules and forms. These member-driven revisions further enhance transparency regarding broker compensation and create additional opportunities for consumers and brokers to discuss and negotiate [..]
Industry News
News In Brief: July 2022
The Emerald City boasts the third-fastest-rising rent year over year in the country, according to a new report from Redfin. The Seattle-based real estate company found the median monthly asking rent in the United States in May surpassed $2,000 a month for the first time, up 15.2 percent year over [..]