Seattle Market Report, October 2019

The monthly market snapshot summarizes key quantitative measures of the local markets in Seattle and West Seattle. Over the last few years, Fall inventory has been high, and this year have 1.9 months of inventory depending on neighborhood–where the number of houses for sale is twice as large as the number of sales. Buyers are active but are not rushed, as the average single family home was on the market for over a month (32 days). Here are a couple news items from the Seattle Times to round out the story our data show:
  • Kathy Orton, “Mortgage rates rise sharply on positive developments surrounding Brexit and China,” Washington Post, Oct. 17, 2019. “Mortgage rates rose this week, riding positive, albeit tentative, developments in Brexit and the U.S.-China trade conflict,” said Matthew Speakman, a Zillow economist. “It’s a pivotal moment in these two major geopolitical stories, so it’s likely that more volatility for mortgage rates is on the horizon.”
Enjoy the report. The key to operating in this market is to prepare thoroughly, practice patience, and adapt based on good information. So, pretty similar to most other things in life;) 4pg_mktrprt_201910

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