What a difference a few months can make. Back in 2021, we marveled at the unrelenting competitiveness of the local real estate market. Now, housing prices aren’t only slowing in year-over-year growth, they’re actually falling in some neighborhoods, according to the latest data from the Northwest Multiple Listing Service. (Rents, we’re sorry to say, are still rising.)
“The market is simply reverting to its long-term average as it moves away from the artificial conditions caused by the pandemic,” explains Windermere’s chief economist Matthew Gardner.
What that means is the real estate market isn’t exactly in a free fall, but it’s certainly normalizing. Here’s where prices rose
→ Continue reading at SeattleMet