Washington state survived September’s fluctuating mortgage rates, record-setting rains and persistent inventory shortages and managed to post increased pending and closed sales compared to the same period a year prior, the Northwest Multiple Listing Service said in a press release.
Dick Beeson, principal managing broker at RE/MAX Professionals in Tacoma, described the South Sound market as 'still speeding along, just not as high and mighty as it was.' Noting inventory has now matched or surpassed year-ago levels and closed sales are up more than 21 percent, he said it’s been an “amazing run-up” for both indicators. He expects the 4th quarter to be near normal levels, but adds, “A lot depends on several unknowns,” mentioning monetary policies, job formation, a shrinking number of first-time home buyers, and the government shutdown.
