Local Home Inventory Is Even Lower Than This Time Last Year
Posted by Cary W Porter on
Looking back at 2017, the number of homes on the market in the Seattle metropolitan area had dropped 10 percent from the previous year—fueling Bidding Wars and a tough market for buyers that was felt all year long. Now, at that same time in 2018, inventory is even worse, dropping an additional 19 percent from this time last year, according to the latest reports.
In the metropolitan area, which includes King, Pierce and Snohomish counties, that inventory drop drove bidding wars in 2017 with 52.4 percent of home sales ended up above asking. Now in 2018 we are faced with an even bigger inventory crunch, that’s not expected to stop anytime soon. Adding to that slowly raising interest rates and buyers are becoming more and more aggressive and in fact…
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