Market Updates

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Buying a Home Key Factors to Note as the Market Recalibrates in the New Year 2022 has been an eventful year in the real estate market and the economy. After 2 years of pandemic-fueled demand and historically low interest rates, we experienced a shift. The Fed quickly raised rates (by 2 points) from April to October to combat inflation, curbing buyer demand as affordability took a hit. The overall economy is starting […]
Buying a Home Matthew Gardner’s Top 10 Predictions for 2023 1. There Is No Housing Bubble Mortgage rates rose steeply in 2022 which, when coupled with the massive run-up in home prices, has some suggesting that we are recreating the housing bubble of 2007. But that could not be further from the truth. Over the past couple of years, home prices got ahead of themselves […]
Market Updates Returning to Normal There is no doubt that 2022 has been one of the most eventful years in real estate. This is saying a lot coming off the record-breaking years of the pandemic. We will probably never see anything like 2020 and 2021 again. During this time the market responded to a historical event that motivated the rearrangement […]
Market Updates QUARTERLY REPORTS Q3 2022 The real estate market is adjusting to new environmental factors as we round out 2022. Interest rates have been on an upward trend since the spring and have increased by 2 points since the first of the year. This has put downward pressure on the peak prices we saw in the spring as we return to more […]
Buying a Home Current Shift In Inflation & Interest Rates It has been my goal to report to you accurate, real-time updates on the real estate market as we navigate the shift that started in May 2022. The two factors that have been the biggest contributors to this shift are inflation and interest rates. Inflation caused interest rates to rise by over 2-points over a […]
Buying a Home Shifting Market: How Interest Rates Affect Prices As we continue to examine the shift in the market, we must take a moment to take a deep dive into interest rates. Since the first of the year, long-term interest rates have increased 2.7% from 3.11% on 12/30/21 to the peak of 5.81% on 6/23/22, but have started to level out. On 8/4/22 rates […]
Buying a Home Decelerating Does Not Equal Depreciating Home Prices Did you know that decelerating home prices do not mean depreciating home prices? Price appreciation is starting to slow down. At the end of May 2022, complete year-over-year price appreciation was at record highs. At the end of July, Whatcom County’s Average Sold Price was down 6.3% compared to June. This means that we are […]
Buying a Home Quarterly Market Reports for Q2 2022 As we head into the second half of 2022, we are experiencing a shift in the real estate market. The market is starting to balance out after two years of an intense seller’s market. Q1 this year had the lowest amount of inventory we have ever seen, which put upward pressure on prices. With the […]
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Buying a Home Still a Seller’s Market Did you know? It’s STILL a Seller’s Market. What does that even mean?! We can gauge who has more power in negotiations based on one simple thing. If no more homes were listed tomorrow—— how long would it take to sell ALL the homes currently available? This is “months of inventory”. Here’s how the power […]
Buying a Home Seasons of More Inventory Did you know that Spring and Summer are when we see the highest levels of inventory come to market in our region? Do you feel like you have been battling to win a house with such slim pickings? Well, now’s that time to stay in the game! More selection means more leverage! Sellers are still […]
Buying a Home Shifting Market: Perspective is Key “How’s the market?” is a question I am asked all the time. It is a common segue in casual conversation over the neighbor’s fence, at a party or family gathering. Now more than ever, the answer to this question is critical and detailed. You see, our market is experiencing a shift, a slowing down of price growth if […]
Buying a Home 5% Interest Rates Interest rates have gone up in the past few months! But, they are still well below the historical average. In fact, they are 2 points below the 30-year average! Buyers are best to get qualified on payment, not rate. What does this mean? It means we work with a lender who helps us figure out […]
Market Updates The Gardner Report At Windermere, we are fortunate to have Matthew Gardner as our Chief Economist. In fact, we are one of the only real estate companies in the country to have such a well-respected expert sitting in this role. Not only is Matthew an asset to Windermere brokers and their clients, but he is a coveted resource […]
Market Updates Quarterly Reports – Q1 2022 The 2022 real estate market started with a bang! We started the year with the lowest amount of available inventory we’ve ever seen coupled with interest rates a point lower than they are now, along with a plentiful buyer pool due to a strong job market and work-from-home influenced moves. The combination of supply and […]
Community Matthew Gardner’s 2022 Predictions for the Local Economy & Real Estate Market Last week, my office hosted our 14th annual Economic Forecast Event with Matthew Gardner, Windermere’s Chief Economist. It was an hour-long presentation followed by lively Q & A that was packed with useful information to help guide us as we start the new year. Matthew journeyed the audience through a macro to micro approach, reflecting […]
Market Updates QUARTERLY REPORTS Q4 2021 2021 was a year that will go down in infamy in regards to the real estate market. Tight inventory levels, historically low interest rates and increased buyer demand influenced by pandemic lifestyle shifts made for an eventful year! 2021 price appreciation is on top of the strong price growth we also saw in 2020. Seller equity is […]
Market Updates The Zillow Algorithm vs The Human Algorithm: What is best for the consumer? The recent news of Zillow’s plan to shut down their iBuyer program due to a $328 million loss in the third quarter has heads spinning in the real estate world and on Wall Street.  Sadly, Zillow plans to eliminate 25% of its workforce because of its decision to move away from the practice of purchasing […]
Market Updates QUARTERLY REPORTS Q3 2021 As we start the fourth quarter of 2021, homeowners are sitting on top of a heap of appreciation. Annual median price growth has been unprecedented. Pandemic-driven moves, historically low interest rates, and limited inventory have all played into this phenomenon. The third quarter saw price growth start to level out as many sellers have stair-stepped […]
Market Updates 2021 Year-to-Date Real Estate Market Review I’ve said it before and I’ll say it again, the 2021 real estate market has been a head-turner! In the second half of 2020, once we started to emerge from the COVID lockdown, the real estate market started to bustle with activity. 2020 ended up being a robust real estate year driven by low interest […]
Market Updates A Quick Bellingham Market Peak . . . Last week I noticed something while doing a quick little peek at the market for Whatcom County—On my screen were seven days of activity in the single-family homes category. There were 85 new listings and 111 pending.  This is a pretty normal ratio that we have been seeing over the last couple of years. (Notice […]
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