Weekly Review
Newsletter - 11/28/2022

Week of November 21, 2022 in Review

A smorgasbord of news was released ahead of Thanksgiving, including an update on new home sales, jobless claims, the Fed and recession chatter. Read on for these stories:

  • New Home Sales Better Than Expected in October
  • Initial Jobless Claims Hit a Three-Month High
  • Will the Fed Slow Its Pace of Rate Hikes?
  • Should Strong Retail Sales Quiet Recession Chatter?

New Homes Sales Better Than Expected in October

New Home Sales, which measure signed contracts on new homes, rose 7.5% in October to a 632,000-unit annualized pace, coming in much better than the 5.5% decline that was expected. There was a negative revision to September’s sales that made…

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With snow in the forecast over the next 3 to 4 days, Public Works crews are prepared to plow and de-ice around the clock as needed for the safety of the community and accessibility for police, fire, and emergency medical services. Residents can assist with keeping roads clear by moving cars into driveways and clearing storm drains of debris before and during snowfall when safe to do so. Snoqualmie’s snowplow route classifies streets based on street function, traffic volume, and importance to the welfare of the community. 

Snow Plow Priority Routes.

A. MAJOR ARTERIALS, TRANSIT & SCHOOL BUS ROUTES. Snoqualmie Parkway, Railroad Ave. School bus snow routes, Meadowbrook Way & 384th Ave. S.E. (Hospital emergency entrance), River St., Hills (Fairway Ave.,…

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With snow in the forecast over the next week and the possibility of a foot of blowing snow and frigid temperatures we wanted to help make sure everyone had an idea on how the city of Sammamish plans for such events.  But no matter what this storm brings to Puget Sound, cities around the region like Sammamish say they are making special plans to make sure everyone, pedestrian to drivers to firefighters, can get around safely.

Here are the published routes for snow and ice removal and plowing from the City of Sammamish!

Sammamish

Sammamish has a plowing priority system in place to clear our 400 miles of road. The plowing time required depends on several variables such as the snowstorm intensity, duration, wind, and the temperature. The Snow…

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With everything going on from Holiday parties to shopping and visits from the in-laws we know that it’s easy to turn away from listing and selling your home during the holidays. Plus, almost everyone says the market slows down in the Winter and you should just wait until Spring, right? WRONG!

While it’s true the market is usually slower around the holidays, the current market trends of constrained inventory and desperate buyers have in fact made the Holidays an excellent time to put your house up for sale. With fewer sellers listing during the Holiday period, buyers are left sitting around with pre-approval letters in-hand just starving for inventory!

Here are 5 TIPS FOR SELLING YOUR HOME AROUND THANKSGIVING

1. Make Curb Appeal a Top…

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With everything going on from Holiday parties to shopping and visits from the in-laws we know that it’s easy to turn away from listing and selling your home during the holidays. Plus, almost everyone says the market slows down in the Winter and you should just wait until Spring, right? WRONG!

While it’s true the market is usually slower around the holidays, the current market trends of constrained inventory and desperate buyers have in fact made the Holidays an excellent time to put your house up for sale. With fewer sellers listing during the Holiday period, buyers are left sitting around with pre-approval letters in-hand just starving for inventory!

Here are 5 TIPS FOR SELLING YOUR HOME AROUND THANKSGIVING

1. Make Curb Appeal a Top…

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Weekly Review
Newsletter - 11/21/2022

Week of November 14, 2022 in Review

Home sales and home construction cooled in October, while wholesale inflation data gave Bonds a boost. Here are the key headlines.

  • Low Housing Inventory Remains Supportive of Home Prices
  • Construction of Homes Continues to Slow
  • Builder Confidence Drops for Eleventh Consecutive Month
  • Wholesale Inflation Cooler Than Estimated
  • Continuing Jobless Claims Continue to Creep Higher

Low Housing Inventory Remains Supportive of Home Prices

Existing Home Sales fell 5.9% from September to October to a 4.43 million unit annualized pace, per the National Association of Realtors (NAR). This was slightly stronger than expectations looking for a 7% decline. Sales…

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What a difference just a few months can make. As the year comes to a close, the red-hot housing market has been brought to its knees by soaring mortgage interest rates.

  •          “Seattle, Phoenix, San Francisco could all see 20% price drops.”
  •          Wolf, of Zonda, expects prices could fall by 15% nationally over the next year
  •          “A really important thing to remember is housing is cyclical,” says Wolf. “We came from a massive run-up in prices, sales, demand in the housing market, and now it’s contracting. This is not new.”
  •          Nationally, home list prices rose 40.6% in just over two years’ time
  •          So, a 10%, 15%, or even 20% drop over a two-year span isn’t as significant as it might seem at first.

It now…

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What a difference just a few months can make. As the year comes to a close, the red-hot housing market has been brought to its knees by soaring mortgage interest rates.

  •          “Seattle, Phoenix, San Francisco could all see 20% price drops.”
  •          Wolf, of Zonda, expects prices could fall by 15% nationally over the next year
  •          “A really important thing to remember is housing is cyclical,” says Wolf. “We came from a massive run-up in prices, sales, demand in the housing market, and now it’s contracting. This is not new.”
  •          Nationally, home list prices rose 40.6% in just over two years’ time
  •          So, a 10%, 15%, or even 20% drop over a two-year span isn’t as significant as it might seem at first.

It now…

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The home selling process has changed considerably over the past year. Last year sellers could throw their homes on the market with little to no prep work done, throw a few pictures online and still expect multiple offers and a final sale price well over asking price. This red-hot sellers’ market was unprecedented in history and certainly not the norm.

Currently the market is in a state of readjustment and is trending back to a more normal balanced market. This adjustment may be perceived as scary by many sellers who are seeing their neighbors home prices fall in price and sit on the market for months. This slowdown can be directly correlated to raising interest rates and a huge increase of properties on the market.

The news for sellers in the…

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Weekly Review
Newsletter - 11/14/2022

Week of November 7, 2022 in Review

October brought cooler than expected consumer inflation, which boosted both Stocks and Bonds when the data was reported on Thursday. Meanwhile, Jobless Claims continue to tick higher. Read on for these key headlines and more.

  • Consumer Inflation Cooler Than Estimated in October
  • Inflation Remained a Top Problem for Many Small Businesses Last Month
  • Rising Continuing Jobless Claims Suggests Slower Pace of Hiring
  • The Scoop on Key Auctions

Consumer Inflation Cooler Than Estimated in October

The Consumer Price Index (CPI), which measures inflation on the consumer level, showed that inflation increased by 0.4% in October, coming in lower than estimates. On an…

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