Posted by: phillipsre | August 23, 2016

Home Bidding Wars May Be Calming Down In Seattle

SOLDYes, the Seattle housing market is still hot as ever and it is still a sellers market, but new reports show that the bidding wars and crazy competition may be cooling down a bit. This article from Geek Wire highlights a July report from Redfin showing that new housing inventory in the region is up 7.6 percent from July 2015. Buyers in the Seattle area have been dealing with many struggles when looking to buy a home including bidding wars, multiple cash offers, homes selling way over asking prices and plenty of other contingencies that make it hard to even get in the home buying game. Although the market isn’t slowing down considerably, the new report shows that there will be new inventory on the market and as the summer winds down, so will a lot of house hunters. For the full article and to learn more about the July housing market and the current state of the industry, click here.

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