Although home sales activity historically slows down in the northwest U.S. during the winter months, the region’s real estate market is anticipating a season full of activity, according to a new report from the Northwest Multiple Listing Service. This article from Brena Swanson of HousingWire.com highlights some of the factors behind the expected increase in the demand for homes in the region.
In an unusual trend, the Northwest real estate market is heating up heading into the holidays, taking some of the fear away from last month’s threat of a slowdown into the rest of the year, the most recent report from the Northwest Multiple Listing Service said.
The Northwest Multiple Listing Service explained that with holidays approaching, real estate brokers usually expect a slowdown as buyers and sellers shift their attention elsewhere. However, this year is different, say some industry leaders.
“Today we have one of the best markets we’ve ever seen for sellers,” said Ken Anderson, managing broker and owner at Coldwell Banker Evergreen in Olympia. “Buyers are still surging to the market and inventory is low. It’s a very good time to sell. Owners who are eager to make the next move don’t have to wait six months or until spring to act,” added Anderson, a former board member at Northwest Multiple Listing Service.
Pending sales jumped 7.8% from a year ago in October, rising from 8,643 transactions to 9,317.
For 19 of the 23 counties in the latest MLS report, the number of pending sales surpassed the number of new listings added to inventory.
