New report shows demand for homes in Washington remains high, inventory 'meager' in many areas
Historically wet weather and the onset of the holiday season did not deter Washingtonians from buying homes last month, according to the latest Northwest Multiple Listing Service (NWMLS) report.
"The so-called seasonal slowdown normally sees serious buyers gain an advantage over casual buyers who take a break during the holidays,” Mike Larson, managing broker at Compass in Tacoma, said in the report. “The difference this year is that there are fewer buyers taking a break and demand remains high.”
NWMLS data showed 8,571 pending sales across 26 counties last month, nearly matching the year-ago total of 8,584. The 8,976 closed sales marked a slight improvement (1.14%) over last year’s figures, when NWMLS members tallied 8,875 completed transactions.
While demand stayed comparable to last year, inventory was down.
There were 4,621 active listings of single family homes and condominiums at the end of last month. That’s 29% fewer active listings than at the end of November last year.
https://www.seattlepi.com/realestate/article/demand-for-homes-is-high-inventory-low-nov-2021-16680659.php