Something from Bob
It's such a mixed bag this month. Weather in the PNW can't decided if it's Winter, Spring, or Summer. World events continue to drive economics in not a great way. And, there is great excitement -- and concern -- as our area prepares for the World Cup games. Speaking of that last point, have you seen the new name for Lumen Field? Seattle Stadium. FIFA (the organization that governs the World Cup), gets to control what sponsors are shown during the games. Lumen Technologies is not one of the World Cup sponsors, thus the name change. Interestingly, since T-Mobile Park (next door) isn't hosting any events, they don't have to change their name. Depending on how good/bad the camera work is, T-Mobile is likely to get some free "air time".🙂
This month, the NWMLS (Northwest Multiple Listing Service) report shows inventory continues to increase -- they use the word "surge" -- and sales have slowed at bit more. But, the median price has remained virtually unchanged. So, sellers aren't losing ground in price evening though there is more inventory for buyers to choose from. That's mostly because we are still in a seller's market -- less than 4 months of inventory. But, some areas are getting close to that "balanced market" number.
In the meantime, mortgage rates continue (see my site for details). We'll have to see what the rates do sith the upcoming expected changes at the Federal Reserve.
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...
