June Market Report and Predictions | Snohomish County Real Estate

What is really going on with interest rates and home prices in Snohomish County?

There is an interesting dynamic that is going on right now with a low inventory and higher rates.

Typically, these two work in position to each other. But in the current market, this is a unique and very interesting situation as I explain further in the video.

We’re seeing changes in sales price and new listings, but we are seeing an increase in rates soon. Sellers also hesitated in letting go of the rates in the high sixes for twos and threes and they won’t give up on the historically low rate.

Our current inventory supply is low, which means that right now the market is in favor of the seller and it’s very difficult for the buyers as the inventory gets lower and lower each time.

For the buyers: if you’re not seeing homes in the market that don't fit your preferences, you really need to negotiate with your priorities. You have to be realistic with what you want in a home, considering how the market is going on right now. You may have to give up on either the price, features, and location in order to get what you want from a home.