Housing Inventory: 6,894* King County home listings - Expect sustained large number of new listings through Spring and Summer with buyer activity/absorption rates fluctuating in regular seasonal patterns

*Typically between 3-7K

Mortgage Rates: 6.86%* (avg 30yr fixed**), up m/m, up w/w, volatile, but in the expected 6.5-7 range I’ve been predicting since last year

https://www.mortgagenewsdaily.com/mortgage-rates/30-year-fixed

*based on LTV and by credit
**“Average 30yr fixed“ is standard for reporting - The 50 year average of the “average 30-year fixed” is ~7.75%.

Active inventory saw a slight uptick from the week prior, while pending and sold listings dipped heading into graduation weekend. A slowdown in new listings contributed to a modest rise in days on market, with the median active price holding steady and the median sold price experiencing a slight decline, indicating a subtle market rebalancing.

Buyer activity continues to outpace levels from this time last month in most areas, even as active inventory climbs beyond end-of-May figures. The number of sold listings is gradually catching up to the surge in pending sales seen late last month, reflecting sustained buyer demand despite ongoing economic uncertainty and elevated interest rates.