There are signs of normalcy in the Seattle region's housing market.
"For the first time in four years, the average house sells for a bit below the listing price in Seattle and across the surrounding metro area, another sign that a hectic market has finally calmed down for burned-out buyers," reports Mike Rosenberg.
"As recently as May – a time now seen, in hindsight, as perhaps the peak of the market – homes in Seattle were selling on average for 6.3 percent above the list price, according to Redfin. Now, they’re going for 0.6 percent below asking," adds Rosenberg.
According to Rosenberg, the trend is found throughout the larger metropolitan area, and it's changing the experience of looking for, and buying, a house.
As for why the Seattle housing market is settling, Rosenberg doesn't speculate or cite anyone willing to do so. Instead, we have here a lot of evidence about the current trend and historical data to put it all in context.
Read the full story: Seattle-area home prices falling at the fastest rate in the nation
Price Cuts Spread to More of the U.S. Housing Market
The insanity of the housing market during the pandemic seems to have peaked in an increasing number of U.S. cities, according to recent data.
Fast-Rising Rents: Cause or Effect of Institutional Real Estate Investors?
More media attention for the growing influence of large, institutional investors on the housing market.
The Consequences of 'Runaway' Housing Prices
There's been no shortage of discussion and debate about what's causing the price of homes in the United States to skyrocket at record rates, but less discussion of the consequences for housing market trends on the broader economy.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
California plans to bury El Niño’s downpour
If the state plays its cards right, it may be able to store a billion acre-feet of El Niño’s water in aquifers.
Desperate measures: Advocates weigh draining Lake Powell to fill Colorado River
Draining the reservoir could reduce evaporation losses by a couple hundred thousand acre-feet.
US buildings threatened, destroyed by fires set to triple by 2060
Researchers found a high fire risk for socioeconomically vulnerable neighborhoods in the American West.
LA residents may be allowed to paint their own crosswalks
Councilwoman Katy Yaroslavsky put out a motion instructing the Los Angeles Department of Public Transportation to study the feasibility of allowing volunteers to paint crosswalks.
Dallas moves to overhaul its zoning code
The city's zoning reform will allow more multi-family and mixed-use developments.
FREE Course: Walkable City 1: Why Walkability?
After describing his path towards focusing on walkability as the essence of good planning, Jeff Speck marches through his five principal reasons for making more walkable places.
Reinventing Malls: Planning Alchemy—Turning Gray Fields Into Gold
The course focuses on the opportunities and imperatives that shape reinvention of mall sites.
City of Rosemead
Rutgers University, Edward J. Bloustein School of Planning and Public Policy
One Hundred Miles
Hunter College, City University of New York (CUNY)
The Architects Foundation
University of Cincinnati Online
City of Cambridge
Montrose County
The Pocatello Development Authority