Stocks are higher, while mortgage bonds slightly lower to start this month. This means that rates aren’t spiking, but they are still sensitive.
Inflation has decreased, which means house-buying confidence is steadily improving. Rates won’t fall at once — they drift lower as confidence builds. As a result, purchase mortgage applications are up 18% — one of the strongest readings we’ve seen in nearly three years.
More Buyers are coming back, not because the rates are perfect, but because the opportunities are. The best strategy right now is flexibility! Buyer demand is stronger than in the past few years. Homes priced correctly are still moving — and competition is quietly increasing.
In King County, the current market offers fresh possibilities for the right type of Buyer. Homeowners ready to trade up from their starter homes to larger, more updated dwellings are finding strong interest in their listings, along with a pool of willing sellers ready to negotiate. The dynamic has created surprising opportunities for strategic Buyers.
What does this mean?
For Buyers: You are not alone in your search. Demand is quietly coming back, so now is the time to take action to find your next home.
For Sellers: More qualified buyers are re-entering the housing market, even before the rates drop. Now is the time to list your house!
Key Takeaway: Buyers are no longer waiting for perfect rates. Instead, they are moving when the numbers make sense.