Southeast King County Housing Update - Resale Only
Focus on each new listing
Although a lower number of homes are going under contract and fewer new resale listings are coming on the market, the Sales Activity Intensity™ for new resale listings going under contract within the first 30 days remains resilient. There is strong intensity for new resale listings up to $750,000, healthy intensity up to $1.5 million and selective buyer activity above $1.5 million.
SALES ACTIVITY INTENSITY™ SCALE
6.06%
4.13%
4.35%
2.89%
UNBELIEVABLE INTEREST RATES
3.18%
MONTHS SUPPLY SCALE
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KEY MARKET INDICATORS november 2022 (october Recap)
Although the 2022 housing market has experienced a major intensity adjustment, the amount of unsold inventory is currently low in the more affordable and mid-price ranges where more than 80% of sales activity takes place. The start of the new year will be the low point for unsold inventory.
THE CURRENT HOUSING MARKET IS NOT LIKE THE GREAT RECESSION OF 2008
