RedFin: Seattle 's Fastest Cooling Housing Market

According to RedFin: Seattle's fastest cooling housing market. If you're tracking the housing market this video will help. Ric Bender provides financial education; learn how to protect your wealth, reach financial goals, and create economic prosperity.

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Seattle’s Housing Market Is Cooling Faster Than Any Other in the U.S.

High mortgage rates, persistent inflation and economic uncertainty are cooling down expensive markets like Seattle and San Jose, along with pandemic homebuying hotspots like Las Vegas and Phoenix.
Seattle’s housing market is slowing faster than any other housing market in the country amid rising mortgage rates, inflation, a slowing stock market and broad economic uncertainty.

That’s according to a Redfin analysis that ranks the 100 most populous U.S. metropolitan areas based on how quickly they’re cooling, according to the change in numerous housing metrics from February 2022 to August 2022. Those metrics are prices, price drops, supply, pending sales, sale-to-list ratio and speed of home sales.

The 10 markets cooling fastest are almost all either West Coast markets that have long been expensive, or places that became significantly less affordable during the pandemic because they attracted scores of relocating homebuyers. Las Vegas came in second place, followed by San Jose, CA, San Diego, Sacramento, CA, Denver, Phoenix, Oakland, CA, North Port, FL and Tacoma, WA.

Click on the link to read article - https://www.redfin.com/news/housing-markets-cooling-fastest-seattle-august-2022/

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