local real estate news, statistics, and commentary without the sales spin.
A reader pointed out that we haven’t looked at how the affordability index is doing in the Seattle area since late last year. Let’s update our standard charts. So how does affordability look as of April? Despite median home prices shooting up, falling interest rates that are back below 4 percent again have kept the…
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: Real estate…
As promised in yesterday’s affordability post, here’s an updated look at the “affordable home” price chart. In this graph I flip the variables in the affordability index calculation around to other sides of the equation to calculate what price home the a family earning the median household income could afford to buy at today’s mortgage…
Let’s take a look at how affordability is doing in the Seattle area after the last few months of changes in home prices and interest rates. So how does affordability look as of October? With home prices stagnating this fall and interest rates inching back down close to 4 percent, the affordability index moved back…
Before the NWMLS data hits this week let’s check in on how Consumer Confidence and mortgage interest rates fared during October. First up, here’s the Consumer Confidence data as of October: The overall Consumer Confidence Index currently sits at 94.5, up 6 percent in a month and up 31 percent from a year ago. At…