The Cascade Team Real Estate Blog

KIRKLAND, Washington (January 6, 2023) – Last year was a tale of two housing markets, suggested broker Dean Rebhuhn in commenting on the latest statistics from Northwest Multiple Listing Service.

  •          In the first half of the year, we had low interest rates, rising prices, and little inventory
  •          The second half of the year brought increasing interest rates, some lowering of prices, and increasing inventory
  •          The local housing market in 2022 ended with a whimper rather than a bang
  •          Overall, the housing market is going to continue falling off the artificial ‘sugar high’ that was a function of the artificially low mortgage rates during the pandemic
  •          Gardner, the Windermere economist, expects prices will
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KIRKLAND, Washington (January 6, 2023) – Last year was a tale of two housing markets, suggested broker Dean Rebhuhn in commenting on the latest statistics from Northwest Multiple Listing Service.

  •          In the first half of the year, we had low interest rates, rising prices, and little inventory
  •          The second half of the year brought increasing interest rates, some lowering of prices, and increasing inventory
  •          The local housing market in 2022 ended with a whimper rather than a bang
  •          Overall, the housing market is going to continue falling off the artificial ‘sugar high’ that was a function of the artificially low mortgage rates during the pandemic
  •          Gardner, the Windermere economist, expects prices will
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With rising interest rates, home buyers often ask if they should wait to purchase a home or should they just take the plunge and buy a house. However, there is more to buying a home than just the interest rate. With market competition and other factors this can make a new home more or less affordable. But, the great news is that right now, many of those factors are in your favor, making today a great time to buy a home. Here is a breakdown of the difference between 2021 and 2022

 

 

 

 

 

Information and photo was provided by Mark Hedman
Homebridge Financial Services  - Sales Manager, Mortgage Loan Originator

 

 

 

It’s clear that now is a good time to get started on your home ownership

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Weekly Review
Newsletter - 1/3/2023

Week of December 26, 2022 in Review

After the market closures Monday for the Christmas holiday, housing news highlighted last week’s calendar:

  • Are Signed Contracts on Existing Homes Set to Rebound This Year?
  • Home Prices Have Softened But Annual Appreciation Is Still Strong
  • Challenges Remain for Job Seekers, Data Shows

Are Signed Contracts on Existing Homes Set to Rebound This Year?

Pending Home Sales fell 4% from October to November, marking the sixth straight monthly decline. Sales were also 37.8% lower than in November of last year. This is a critical report for taking the pulse of the housing market, as it measures signed contracts on existing homes, representing around 90% of the

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Weekly Review
Newsletter - 12/27/2022

Week of December 19, 2022 in Review

The markets had plenty of news to feast on last week, including the latest data on consumer inflation, home sales and home construction. Here are the highlights:

  • Consumer Inflation Headed in Right Direction
  • Inventory of Existing Homes Declined for Fourth Consecutive Month
  • New Home Sales Beat Expectations in November
  • What the Home Construction Slowdown Means for Home Prices
  • Home Builder Confidence Declined Every Month This Year
  • Unemployment Claims Data Illustrates Difficulties for Job Seekers
  • Third Quarter GDP Remains Positive

Consumer Inflation Headed in Right Direction

The Fed’s favorite measure of inflation, Personal Consumption Expenditures

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Weekly Review
Newsletter - 12/19/2022

Week of December 12, 2022 in Review

Consumer inflation continues to cool, while there were some important takeaways from the Fed’s latest rate hike decision. Read on for these crucial details:

  • What the Fed’s Latest Rate Hike Really Signals
  • Consumer Inflation Cooler Than Expected Last Month
  • Small Business Owners Say Inflation Remains Top Problem
  • Shipping Data Brings Positive Sign for Inflation Picture
  • Continuing Jobless Claims at Highest Level Since February

What the Fed’s Latest Rate Hike Really Signals

As expected, the Fed hiked its benchmark Fed Funds Rate by 50 basis points at its meeting last Wednesday. The Fed Funds Rate is the interest rate for overnight borrowing for banks, and

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Mortgage rates are continuing their downward trend as investors keep a lookout for more signs of cooling inflation.

“This week, labor cost data provided a ray of hope as it showed that hourly compensation was lower than previously reported in the second and third quarters for all sectors except manufacturing,” writes Danielle Hale, chief economist at Realtor.com, adding that gas prices are also plunging.

Nadia Evangelou, NAR senior economist and director of real estate research, commented: 

“Mortgage rates continue to move down. According to Freddie Mac, the rate on a 30-year fixed mortgage dropped to 6.33% from 6.59% the previous week. Housing affordability rose about 8% in the last four weeks as mortgage rates moved closer to 6%. If inflation

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Mortgage rates are continuing their downward trend as investors keep a lookout for more signs of cooling inflation.

“This week, labor cost data provided a ray of hope as it showed that hourly compensation was lower than previously reported in the second and third quarters for all sectors except manufacturing,” writes Danielle Hale, chief economist at Realtor.com, adding that gas prices are also plunging.

Nadia Evangelou, NAR senior economist and director of real estate research, commented: 

“Mortgage rates continue to move down. According to Freddie Mac, the rate on a 30-year fixed mortgage dropped to 6.33% from 6.59% the previous week. Housing affordability rose about 8% in the last four weeks as mortgage rates moved closer to 6%. If inflation

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Mortgage rates are continuing their downward trend as investors keep a lookout for more signs of cooling inflation.

“This week, labor cost data provided a ray of hope as it showed that hourly compensation was lower than previously reported in the second and third quarters for all sectors except manufacturing,” writes Danielle Hale, chief economist at Realtor.com, adding that gas prices are also plunging.

Nadia Evangelou, NAR senior economist and director of real estate research, commented: 

“Mortgage rates continue to move down. According to Freddie Mac, the rate on a 30-year fixed mortgage dropped to 6.33% from 6.59% the previous week. Housing affordability rose about 8% in the last four weeks as mortgage rates moved closer to 6%. If

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Weekly Review
Newsletter - 12/12/2022

Week of December 5, 2022 in Review

Reports on home prices, inflation and unemployment highlighted a relatively quiet economic calendar, while recession signals continue flashing. Read on for these crucial stories:

  • Wholesale Inflation Hotter Than Anticipated
  • Are Home Prices Still Forecasted to Appreciate?
  • Continuing Jobless Claims Reach a 10-Month High
  • More Recession Signals Flashing

Wholesale Inflation Hotter Than Anticipated

The Producer Price Index (PPI), which measures inflation on the wholesale level, rose by a higher than expected 0.3% in November. On a year-over-year basis, PPI decreased from an upwardly revised 8.1% to 7.4%. While this was also a little higher than expected, 0.7%

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