Seattle-area housing market sees shortage of homes, multiple offers
Seattle-area housing market sees shortage of homes, multiple offers SEATTLE – The Seattle area housing market in June saw a combination of a shortage of inventory and high buyer demand, pointing to a “very robust” market in the region, experts said. Even as the novel coronavirus pandemic continues to change some of the ways people buy and sell houses, the housing market in the region appears strong, according to the Northwest Multiple Listing Service’s June report, which covers 23 counties in Washington. “Multiple offers are back with a vengeance as buyers are handicapped by having only about half the inventory…
Despite pandemic, Seattle region’s pending home sales outrun last year’s level | Coronavirus Economy daily chart
Despite pandemic, Seattle region’s pending home sales outrun last year’s level | Coronavirus Economy daily chart By Seattle Times business staff Buyers of single-family homes overcame the obstacles of the coronavirus shutdown and managed to clinch more deals last week than in the comparable week of 2019. The pace of sales was more than double the recent low point at the end of March. New listings, after bouncing off early April lows, remain at a three-week plateau that’s still significantly below May 2019 levels as the region heads into a season that typically brings a surge in home sales.
Surprise! Weekly Mortgage Applications are up.
Surprise! Weekly Mortgage Applications are up. If the number of recent weekly mortgage applications are any indication, they point to a remarkable (and unexpectedly early) recovery in homebuying. – Purchase volume was just 1.5% lower than a year ago, a rather stunning recovery from just over a month ago, when purchase volume was down 35% annually. – Mortgage applications to purchase a home rose 6% last week from the previous week, according to the Mortgage Bankers Association. So, If mortgage demand is an indicator, buyers are coming back to the housing market far faster than anticipated, despite coronavirus shutdowns and…
The W-Shaped Rebound
The W-Shaped Rebound The rebound of the U.S. housing market will not look like a “V” or a “U.” Rather it would be a “W,” according to the updated 2020 forecast of real estate listings website Realtor.com. According to the company’s economics team, national home sales will improve in July, August and September, largely driven by demand from millennial shoppers and transactions in secondary markets, before they decrease again due to a projected winter spike in coronavirus cases. “As cities and states begin the slow process of reopening, we’re going to see a see-saw recovery with ups and downs that…
Blue Origin takes one giant leap across the street to space venture’s new HQ in Kent
Blue Origin takes one giant leap across the street to space venture’s new HQ in Kent Blue Origin CEO Bob Smith addresses a crowd of VIPs and employees at the ribbon-cutting ceremony for the company’s new headquarters in Kent, Wash. A mockup of Blue Origin’s Blue Moon lander stands in the background. (GeekWire Photo / Alan Boyle)KENT, Wash. — Amazon billionaire Jeff Bezos’ space effort now officially has more space. To be precise, 232,885 square feet more space.That’s the bottom line from today’s ribbon-cutting ceremony for Blue Origin’s new headquarters building — a multimillion-dollar facility across the street from the site of…
PMF Investments Submits Plans For 4.8-Acre Development Near Bellevue Light Rail Hub
PMF Investments Submits Plans For 4.8-Acre Development Near Bellevue Light Rail Hub Plans for a 4.8-acre redevelopment project near the Bellevue East Main Light Rail Station were recently submitted, making it the first East Main Bellevue Transit Oriented Development to begin construction. The site will include more than 1M SF of office space, 45K SF of retail space and 145 multifamily units. It will also feature a 2-acre enhanced pedestrian plaza. The Bellevue-based PMF Investments is developing the site, which is located at 100 112th Ave. NE. The East Link line will connect Seattle to Redmond by 2023. The project…
Seattle among tech cities showing strongest wage growth in PayScale’s latest compensation index
Seattle among tech cities showing strongest wage growth in PayScale’s latest compensation index Amazon’s main headquarters campus continues to take shape this month in downtown Seattle. (GeekWire Photo / Kurt Schlosser) It pays to be in tech, and in Seattle. The city landed among the top metro areas in the U.S. when it comes to strong wage growth in the Q3 2019 PayScale Index, which tracks quarterly and annual trends in compensation and provides a national forecast for the coming quarter. Wages increased 4 percent year over year in Seattle, outpacing the national average of 2.6 percent. Austin, Texas, also showed…
Microsoft to host Seattle summit on high-speed rail connecting Pacific Northwest cities
Microsoft to host Seattle summit on high-speed rail connecting Pacific Northwest cities Microsoft President Brad Smith announced the company’s latest commitment to high-speed rail in the Pacific Northwest at the 2019 Cascadia Innovation Corridor Conference. (GeekWire Photo / Monica Nickelsburg) High-speed rail in the Pacific Northwest has long been a dream of Microsoft and the tech giant is accelerating efforts to make that dream a reality.Next month, Microsoft will host government, transportation, and business leaders at the Cascadia Rail Summit, an event in Seattle dedicated to connecting Portland, Seattle, and Vancouver B.C. via a high-speed train. The proposed rail line would…
Facebook grows to 5,000 employees in Seattle region, opens its 18th office at downtown tower
Facebook grows to 5,000 employees in Seattle region, opens its 18th office at downtown tower BY MONICA NICKELSBURG on September 26, 2019 at 10:21 am Facebook’s Seattle site lead, Vijaye Raji, speaks at an event Thursday at the company’s newest Seattle-area building. (GeekWire Photo / Monica Nickelsburg) Facebook’s footprint in the Seattle area continues to grow as the social media giant now employs more than 5,000 people across the region. Facebook’s Seattle site lead, Vijaye Raji, revealed the latest workforce numbers Thursday at an engineering fair to celebrate the company’s newest office at Arbor Blocks 333 in South Lake Union — just a…
Google expands Seattle-area
Google expands Seattle-area footprint with huge office purchase at new Kirkland Urban development Google now owns 400,000 square feet of office space at the new Kirkland Urban mixed use development in the Seattle region. (Ryan Properties Photos) Google now owns 400,000 square feet of office space at the new Kirkland Urban mixed use development in the Seattle region. (Ryan Properties Photos) Google is continuing its big growth across the Seattle region. The tech giant confirmed that it completed its purchase of about 400,000 square feet of office space across two buildings (North and Central) at the new Kirkland Urban development in the…