Market Trends From Around The Sound: Q4-2022

The real estate market experienced a shock to the system in the second half of 2022. After more than two years of rock-bottom interest rates, the economic outlook, including rapid inflation, prompted many on their home-buying or selling journey to pump the breaks. For 12 Pacific Northwest market areas, year-over-year growth isn’t what we once saw, but there are many positive takeaways from the fourth quarter stats. As always, your Realogics Sotheby’s International Realty global real estate advisor can guide you through the ups and downs of the market, to assure that you’re making the right decision for your investment, lifestyle, and of course, home.

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While prices did see gains year over year, the trendlines are relatively flat. There’s a resetting of expectations here, as one of the biggest shifts from 2021, is the average time a home is listed for sale on the market, 37 days.

*Statistics and blog was originally published on RSIR.com*