My name is Adrian Willanger, I’m a broker with Kelly Right Real estate in Seattle, I have over 30 years’ experience helping buyers and sellers with their real estate business.
It’s June 11th and there’s a lot going on in real estate. The biggest story continues to be the lack of available inventory. We continue to see robust demand and intense buyer competition from buyers to win a house.
With bidding wars, all cash offers, waive contingencies and free lease backs increasingly common in many markets. Leading to buyer frustration with being out bit and can’t find a home leading to what has come to be known as “buyer fatigue.”
Northwest Multiple Listing Service reported months of inventory of homes and condominiums fell to just over two weeks (0.59 months) system-wide, which encompasses 26 of Washington’s 39 counties. Only March 2021 and December 2020 have been lower when both both months ended with only 0.53 months of supply.
We know demand is there. And we’re wondering if supply will come back? I’ll be talking about this in the upcoming weeks.