Puget Sound housing market sees supply surge as sales fall
Updated
Updated · MyNorthwest · May 7
Puget Sound housing market sees supply surge as sales fall
10 articles · Updated · MyNorthwest · May 7
Active listings rose 28.4% statewide to 18,563 in April, while closed sales fell 3.7% and the median price held at $650,000.
Snohomish County inventory jumped 58%, King County single-family median prices fell 6.8% to $960,000, and Pierce County prices rose 4.5% to nearly $580,000.
Brokers say tech layoffs and 6.3% mortgage rates are making buyers cautious, though well-priced homes still sell quickly and Seattle pending data suggests improving momentum into May.
With housing supply surging, are Puget Sound buyers finally in control, or is this just a temporary illusion?
Amidst widespread tech layoffs, can a niche AI job boom truly prevent a Puget Sound housing market downturn?
As Washington pushes for more housing, could its new rent control law unintentionally trigger a market collapse?