wide view of a dilapidated craftsman home, peeling paint, broken windows, holes in roof, on a Seattle neighborhood street on a rainy day

Homebuyers are taking on monthly payments 59% higher than at the 2007 peak of the previous housing bubble.

As of February, the monthly payment for the median-price single-family home sold in King County at current mortgage rates was $3,945. The good news: This is down from an eye-watering $4,758 in October. The bad news: It’s up dramatically from just a year prior, and 59% higher than what we saw at the peak of the previous housing bubble…

King County Affordability Index

So… what the heck is going on with the Seattle housing market?

Since we’ve been gone for so long, I thought I’d start back up with somewhat of an overview post. Let’s just take a look at what’s going on in the Seattle-area (King County) housing market recently.

One of the biggest topics on everybody’s mind lately is home prices, so let’s start there…

Around the Sound: Still a dismal market for buyers everywhere

Let’s take a look at our stats for the local regions outside of the King/Snohomish core. Here’s your October update to our “Around the Sound” statistics for Pierce, Kitsap, Thurston, Island, Skagit, and Whatcom counties…

NWMLS: Pending sales hit an all-time high in August

August market stats were published by the NWMLS on Friday before the holiday weekend. The King County median price of single-family homes rose over 10 percent year-over-year for the first time since May of 2018. Inventory is way down from a year ago, and pending sales climbed to an all-time record high