Housing Inventory: 6,782* King County home listings - Expect sustained large number of new listings through Summer with buyer activity/absorption rates fluctuating in regular seasonal patterns. Inventory typically peaks in August/ September with new listings peaking in July/August.

*Avg between 3-7K

Mortgage Rates: 6.58%* (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 survey of 200 lenders top tier current loans (usually 15% down, 680+ credit)
**“Average 30yr fixed“ is standard for reporting - The 50 year average of the “average 30-year fixed” is ~7.75%.

The market remains relatively stable, with a slight dip in active inventory as new listings declined from the previous week. Pending sales saw a modest increase, signaling steady demand. In some areas, active listings have reached 15-week highs, and days on market continue to climb. While the median active price remains steady, the median sale price has seen a slight week-over-week increase.

Active listings remain significantly higher than this time last year, providing buyers with more options in the market. While the number of sold listings has held steady, pending sales have seen a slight uptick, keeping the absorption rate based on pended sales stable year over year. The median sale price is nearly unchanged from last year, but increased days on market and greater inventory levels have contributed to a decline in the sold-to-list price ratios.