The Market Update, according to the Northwest Multiple Listing Service as of Sept. 9, 2019 – depleted inventory continues to frustrate would-be buyers in Western Washington. August and September, a slower time for buying and selling, but as we head into the fall market the listing inventory continues to lag last year’s numbers, we should see a bump in activity now that kids are back to school, Washington State Fair is over and vacations. Low interest rates, and strong economy we anticipate solid activity in the next few months. Sellers need to make sure their home goes on the open market to be exposed to as many buyers as possible. As for buyers, be sure to get lender pre-approval first and ideally fully approved by underwriting before searching for a home. Use cash or conventional financing, which is more appealing to sellers in multiple-offer situations.
With prices in King county soaring, buyers are expanding outside the greater Seattle area into Pierce, Thurston and Kitsap Counties and other surrounding areas.