Seattle, WA Real Estate Trends in 2022

Abstract

Over the past few years, we have seen historically low interest rates resulting in bidding wars and low inventory. With the increased rates, we are beginning to see the market cool off a bit. The Seattle real estate market has mirrored the national trends. Low-interest rates and high demand have resulted in a low housing inventory in the Seattle area. Reasons for the Low Housing Inventory It makes sense that the record low interest rates and high demand for houses resulted in the seller's market, but why did these happen? Record Low Mortage Rates In response to the economic pressures of the pandemic, the Federal Reserve bought mortgage-backed bonds to keep short and long-term lending rates low. Because of this, the year 2020 alone set 16 record lows for mortgage rates. In some places, mortgage rates dropped Continued The post Seattle, WA Real Estate Trends in 2022 appeared first on FastExpert.