NWMLS reports that – “Inventory remains critically low, but there are fewer house-hunters in the hunt during this holiday season so motivated sellers and buyers are seeing success, according to brokers with Northwest Multiple Listing Service. It’s just-released statistics for November show year-over-year gains in pending sales, closed sales, and prices, but a steep decline in inventory.
Even as prices rise, until supply improves, sellers will remain firmly in the driver’s seat of an “insanely competitive housing market,” commented OB Jacobi, president of Windermere Real Estate.
“I’m still very concerned with the lack of inventory in the Seattle housing market,” Jacobi stated, adding, “Even with the drop in inventory we normally see this time of year, the current levels are critically low. Looking at the data as far back as 1999, we’ve never seen a lack of homes for sale to this degree.”
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