It’s time once again for the monthly reporting roundup, where you can read my wry commentary about the news instead of subjecting yourself to boring rehashes of the NWMLS press release (or in addition to, if that’s what floats your boat).
To kick things off, here’s an excerpt from the NWMLS press release:
Western Washington Housing Market Still Strong
It’s still a seller’s market, but some leaders from Northwest Multiple Listing Service think the imbalance may be easing in some areas, pointing to a slower pace of sales and moderating prices. Others aren’t convinced, citing mixed indicators.
Commenting on September’s activity, Northwest MLS director George Moorhead reported “rumblings on both sides of the fence” by buyers and sellers. “Buyers are getting antsy to make a move before interest rates rise and they’re looking harder at homes that have been on the market longer than 30 days.”
“We have one month until November when new listings coming on the market drop by 50 percent on a monthly basis compared to spring and summer months,” explained J. Lennox Scott, chairman and CEO of John L. Scott Real Estate. With the decrease typically lasting until the end of February, Scott said for selection, “the best opportunity for homebuyers to find a home will be in the next 30 days.”
The “best opportunity for homebuyers” is always right now according to used home salesmen like Lennox Scott.
Read on for my take on this month’s local news reports.