Archive for September 2021
Listing price trend – the other side of housing market appreciation
Although listing price trends don’t get as much attention as sales prices, they are indicators that warrant some attention. The average listing price in August was $345,866. That’s 21% higher than…
Read MoreIt’s time for your home’s seasonal switchover
Summer ended last week, but we didn’t have to wait for the autumn equinox to know that. It’s noticeably cooler in the evenings and early mornings. And the forecast for peak fall colors has been made. The…
Read MoreAppreciation growth rate can accommodate price softening
Another indicator that a little bit of the bloom is coming off the local housing market is the number of price reductions showing up. During the first 12 days of September, there were 13 of…
Read MoreMaking the best purchase offer in a seller’s market
You’ve worked with a REALTOR® to scour the listings, toured what feels like a thousand houses, and finally found it: the house you want to call home. The next step is to make your purchase offer,…
Read MorePending home sales growth rate slows
Homeowners accepted 1,099 offers for single-family and condo sales in August. It was the fourth month pending sales have been flat. Both the long and short-term trends have returned to the traditional pattern of seasonal slowing as…
Read MoreTri-Cities commercial real estate activity hits high point
Tri-Cities commercial real estate had one of its best-ever months in August. There were 64 commercial leases and sales, up 82.9 percent from last year. It’s also noteworthy that activity in the Commercial-Retail and…
Read MoreForbearance exit helps boost inventory
The first wave of borrowers is exiting the forbearance program through October. They have the option to resume making mortgage payments, modify their loan, or cashing out at the top of a hot market.…
Read MoreHow can be market be slowing when home sales, prices are at record highs?
August’s Home Sales Report made an on-the-surface glaring contradiction. It said there were signs that the market was beginning to come off the sizzling pace it has been on since…
Read MoreAugust home prices surge to an all-time high
There are signs the local housing market is slowly transitioning to more normal conditions. Demand is ebbing, and inventory is gradually increasing. But that didn’t pull August prices and closings off a record-setting pace. Prices were at all-time highs. And closings were at an…
Read MoreAppreciation boosts number of local equity-rich homeowners
During the second quarter of this year, there were almost 65,501 outstanding mortgages in local zip codes. Of those, 20,237 were equity rich. That means they had a loan-to-value ratio of 50% or less. The…
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