NEWS & INSIGHTS
What’s Happening
Press Release
Northwest MLS brokers tally 107,354 sales during 2021 valued at more than $75 billion
Northwest Multiple Listing Service member-brokers reported 107,354 closed sales during 2021. That marked the first time the annual sales volume surpassed 100,000 transactions. Last year’s completed sales were valued at more than $75 billion, eclipsing 2020’s figure by nearly $18.9 billion for a year-over-year (YOY) gain of almost 33.6%. Sales [..]
Industry News
Forterra-led coalition launches “Forest to Home” initiative to produce affordable housing using renewable materials
“Forest to Home,” an initiative of Forterra, got underway last month when construction started on the first homes being built with an engineered wood product known as cross-laminated timber (CLT). The milestone is part of Forterra’s goal to create “local, affordable housing built by local labor with resources from local [..]
Industry News
“Hi Neighbor” fund increases home buying power for Blacks
Eligible Black/African American homebuyers can borrow up to $12,000 to layer into a mortgage loan to use toward their home’s purchase cost. Dubbed the “Sam Smith ‘Hi Neighbor’ Homeownership Fund,” the deferred loan product is designed for first-time homebuyers. The new purchase assistance program is a private/public partnership between HomeSight, [..]
Industry News
Covid could reshape housing demand
Covid could change where people choose to live, reshaping housing demand in cities and suburbs, according to research by the Joint Center for Housing Studies of Harvard University (JCHS). While a hybrid work schedule may be an option – and preference-for many workers, it isn’t feasible for all, prompting a [..]
Industry News
Users give Northwest MLS mostly high marks for services, products
Northwest Multiple Listing Service released results of its latest member satisfaction survey conducted last year. When asked, “In general, how satisfied are you with the service provided by NWMLS?” the MLS earned an overall score of 4.11 on a five-point scale. Nearly nine of every 10 respondents (88.8%) said NWMLS [..]
Industry News
New year, new laws for Washingtonians
Take-out diners will have to ask for utensils, the minimum wage will increase, the wealthy will pay more on capital gains, and felons will have their voting rights restored. Those are some of several new laws that became effective in Washington state on January 1. Also enacted are bans on [..]
Industry News
News In Brief: January 2022
According to Gene Balk of the Seattle Times, a new poll of county residents found support for a handful of approaches that would increase the supply of homes, including one that’s highly controversial: The elimination of single-family home zoning – and not just in Seattle, but in the suburbs, too. [..]
Industry News
Community reuse center notches notable numbers for 2021
The RE Store, a community reuse center that is part of RE Sources, posted some impressive numbers for its waste reduction efforts during 2021. The nonprofit organization operates a retail location in the Fountain District of Bellingham as well as an online store for curbside pick-up. Among last year’s accomplishments [..]
Industry News
Economist expects “rocky road” for homebuyers
Forecasts from some of the country’s largest real estate services firms predict a less frenzied housing market in 2022, with prices rising at a more moderate rate than during 2021. Buyers should expect a rocky road over the next few months, suggested Daryl Fairweather, chief economist at Redfin. Data compiled [..]
Industry News
Responding to drought, Las Vegas bans grass for new homes
Building on existing restrictions for water use, the Southern Nevada Water Authority passed resolutions last month that ban grass for all new housing and commercial developments in the Las Vegas metro area. The not-for-profit water agency also approved a measure to ban evaporative cooling machines, also known as “swamp coolers.” [..]