The FIFA World Cup has come and gone in Seattle and from all accounts, it was generally a success for the area. Nothing seriously bad happened and attendees from around the world were pleasantly surprised by how nice the area is. Hopefully that will translate to future tourism for the PNW. Down side, of course, is that the USA is out of the tournament. And, if you are at all familiar with the PNW weather, it's after the 4th of July so Summer has officially begun.
The NWMLS (Northwest Multiple Listing Service) report this month shows buyers are continuing to see more options (inventory is increasing) and they are taking advantage of that. Because of the increased buyer activity, the market moved slightly back toward a seller's market and away from a balanced market (4 to 6 months of inventory). That said, I'm seeing sellers get less than asking and waiting longer for a contract. So, the market is really a mixed bag these days, dependent on your location and price range.
Also from the NWMLS report, “At the end of February 2026, 30-year fixed mortgage interest rates had reached their lowest point since September 2022: 5.98%. Then the war with Iran started, resulting in increased inflation and, in turn, higher interest rates. By the end of June, rates had risen by just over half a percentage point to 6.49%." Check out my site to see how the current yearly average 30-year mortgage rate compares to previous years.
As always, buyers are still buying and sellers are still selling. I'm available to talk about your plans and/or anything I've mentioned above.
Until next month...
