Seattle area housing market in June sees shortage of homes, multiple offers

[Yo_Mama_Been_Loggin]

The Seattle area housing market in June saw a combination of a shortage of inventory and high buyer demand, pointing to a "very robust" market in the region, experts said.

Even as the novel coronavirus pandemic continues to change some of the ways people buy and sell houses, the housing market in the region appears strong, according to the Northwest Multiple Listing Service's June report, which covers 23 counties in Washington.

“Multiple offers are back with a vengeance as buyers are handicapped by having only about half the inventory of a year ago,” said Dick Beeson, managing broker at RE/MAX Northwest in Tacoma-Gig Harbor, in a news release. “If a buyer finds a home they like, it’s likely 20 other people will be vying for it, and the battle is on.”

-snip-

The median home price in King County also rose when compared to both last month and the same time last year. It jumped to $675,000, about 6% higher than June of 2019.

https://www.seattlepi.com/seattlenews/article/Seattle-area-housing-market-in-June-sees-shortage-15391655.php?utm_source=newsletter&utm_medium=email&utm_content=headlines&utm_campaign=spi_itsintheseattlepi

[handmade34]

1. Vermont as well

I am trying to buy a home further south in Vermont and it is madness! prices have skyrocketed and any half-decent homes go within days of being listed...

very frustrating as I am not in the market for a $600,000 house (the only ones not selling as quickly)

[LisaM]

2. It's very frustrating.

I live in Seattle, and have just never been quite able to catch the housing market, not even to buy a condo or townhouse. Every time there's a little breather and I get close, it gets crazy again. I guess I've come to terms with the fact that I'll never be able to own the house or apartment where I live, but it just depresses me. Tech workers have ruled the roost here since the 90s and it's never going to change, I guess.