Market Recap

A slight decrease in interest rates has raised cautious optimism – interest rates now sit at around 7.2%, in comparison to 7.8% in October 2023, and a continuation of that decrease would have a positive impact on the market in general. However, the decline in seasonal inventory continues to drive home prices upward, spurring an increase of 4.6% in prices from November 2022:

  • NWMLS brokers reported 4,367 closed sales in November 2023, which is a 16% drop from closed sales in November 2022 (5,194). However, this is a slight improvement from October’s year-over-year change in closed sales, which decreased 18% when compared to October 2022.
  • While most counties in the NWMLS report (19 of 26) saw a decrease in the number of homes…

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Homebuyers who brave the cold to get out there and shop for homes right are finding something strange, really good news!

First up, increasing inventory.

A new report has found that 7.5% more home sellers listed their homes in November than this same month last year. It’s actually “the first-time inventory has increased this late in the fall season since our records commenced in 2016. This turnaround is a big deal, “ending a four-month streak of annual inventory declines,”. Plus, seasonal housing stock in November increased by 2.4% above October levels, which is another first.

November saw the first annual growth in newly listed homes in 17 months. If you look at total inventory—of both new listings and old—that’s improved, too, with the…

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Here is your market update for Kirkland, this is the slow time of the year as homes are taking longer to sell, yet interest rates have been on the slight decline this week with the current Jumbo loan at 6.99%. Any questions about the market or getting a great rate, contact me! Happy Holidays!

Snow Headings, Real Estate Broker 253-244-1324

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Thanksgiving is almost here! So, before you sit down and eat your Thanksgiving meal, let's find out how well you know your Thanksgiving history...

1. FACT OR FICTION: IN 1863, ABRAHAM LINCOLN BECAME THE FIRST AMERICAN PRESIDENT TO PROCLAIM A NATIONAL DAY OF THANKSGIVING.

2. FACT OR FICTION: NATIVE AMERICANS USED CRANBERRIES, NOW A STAPLE OF MANY THANKSGIVING DINNERS, FOR COOKING AS WELL AS FOR MEDICINAL PURPOSES.

3. FACT OR FICTION: ONE OF AMERICA’S FOUNDING FATHERS THOUGHT THE TURKEY SHOULD BE THE NATIONAL BIRD OF THE UNITED STATES.

4.FACT OR FICTION: THE TRADITION OF PLAYING OR WATCHING FOOTBALL ON THANKSGIVING STARTED WITH THE FIRST NATIONAL FOOTBALL LEAGUE GAME ON THE HOLIDAY IN 1934.

Ready to check your answers?


1. Fiction - George…

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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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Just Sold

Fun fact Wednesday- "Who you choose to work with matters"! We were under contract on this listing and the buyer's lender said it was impossible to close on the home and this would also put the buyers in jeopardy of losing their earnest money. cI called my preferred lender who I have worked with forever, who is solution focused and he encouraged me have the buyers (who were not my clients) call him. In the end, he was able to get US to the finish line and it only took 7 days to close!!! If you want to talk about market conditions and working with the best of the best, give me a call 714-655-0595. I would love to share all of my favorite people over coffee, including- contractors & lender info.

Warmly, 

Hailey Miller


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We hope you enjoy and have a relaxing Thanksgiving with your friends and family! Here to help, don't hesitate to ask any questions about the market or any other real estate questions you may have!


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Cooler monthly inflation report pushes mortgage rates even lower

As we get ready to set the Thanksgiving table, there is some good news in the world of interest rates. The rates are finally seeing a decline. Mortgage rates fell again on Tuesday November 14. The average rate on the 30-year mortgage fell 18 basis points to 7.40% on Tuesday, according to Mortgage News Daily, as Wall Street lowered its expectations for future Federal Reserve hikes. Hopefully this tread will continue as we head into 2024. You can read this latest article here. 

Closer to home in North Bend, there is plenty of new construction where a mortgage interest rate lock and buydown incentive on select homes are being offered if a purchase is made from 11/7/23 and 12/10/23, and…

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Greater Metro Denver Market Report | October 2023

Here are the latest stats for the Denver Metro Housing Market for October 2023.  Overall we are seeing a slight decrease in selling prices and days on market is increasing.  This is playing a little more in the favor of buyers, however home buyers now are having to deal with much higher rates than they were last year.  Based on current mortgage rates, you'd expect a little more downward pressure on pricing, however the lower inventory levels are keeping prices flat to slightly down.

October saw the traditional seasonal slowdown across the Greater Metro Denver residential market. When viewed both year-over-year and month-over-month, active and closed listings declined for both attached and detached…

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Home buyers and sellers face the prospect of major changes to how much and in what way they pay their real-estate agents, following Tuesday’s historic verdict against the National Association of Realtors and large residential brokerages.

Those changes could range from minor tweaks to the commission system to a more radical restructuring of the residential real-estate industry, such as more people buying homes without using agents or buyers paying their agents by the hour.

By way of a quick summary, a federal jury found NAR and large brokerages conspired to keep costs artificially high and awarded $1.8 billion in damages, which could be tripled to more than $5 billion under antitrust rules.

The Cascade Team provides buyers and sellers with…

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