While winter "officially" starts on the 21st, the late fall weather we've been dealing with feels like it's already here. Stay warm and dry and let me know if I can help with an resources for your home.
Mortgage rates continue at about the same level as last month. For some perspective, they are about .5% lower than this time last year. So, some improvement. My document of monthly average rates since 1971 continues to be a great reminder of how high rates have been.
Per the latest information from NWMLS (Northwest Multiple Listing Service), the seasonal slow down we usually expect to see around this time of the year is in full swing. The difference between October and November is a 15.1% decrease in available properties (listings). BUT, compared to the same time last year, we are 23.4% higher. And, the median sales price -- year over year -- is also higher with a 7% increase. So, potentially more options for buyers and the potential for a higher sales price for sellers. Meaning, it is still a good time to consider buying and selling.
As always, I'm available to talk about your plans and/or anything I've mentioned above.
Until next month...
