A Frustrating Housing Marketing in Puget Sound

Prices for single-family homes and condos in the Puget Sound region rose 16% year-over-year in May, reflecting a decrease of 27% in inventory. As a result, more people are putting their homes and condos on the market. May listings increased from 3,602 to 4,352 year-over-year, while interest rates have increased by 0.75%, reducing a buyer’s ability to buy a $350,000 home by almost $31,000.

As a result, the market is frustrating both buyers and sellers. Some “overly aggressive sellers” are disappointed when they receive low or no offers at all, while other would-be buyers remain inactive in the hopes that prices will temper.

Read the full article at the Puget Sound Business Journal