September usually signals the start of real estate’s offseason. But last month, droves of would-be sellers—motivated by the much-anticipated interest rate cut—listed their homes in hopes of enticing a buyer before the market hibernates for the holidays. Buyers, for the most part, were unmoved.
That’s according to the latest data from Northwest Multiple Listing Service (NWMLS). New listings in Seattle skyrocketed 51 percent from August to September, and total active listings increased 17 percent. That helped push the city’s inventory level to 3.9 months, the highest since before the pandemic, The Seattle Times reports.
Despite the influx of homes on the market, buyers are still contending with a lack
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