Seattle sees monthly increase in housing inventory; prices continue to rise
Seattle has struggled with low housing inventory throughout the coronavirus pandemic. The limited number of houses on the market has driven prices up as homes have regularly received multiple offers from eager buyers.
But according to a new report from Zillow, for-sale inventory in Seattle went up about 11.3% month over month in March, after dropping about 8.2% month over month in February. Year over year, inventory is still more than 20% lower than it was at the same time last year.
Nationally, new listings in the U.S. went up about 30% month over month from February to late March, but total inventory was still down about 1.1%. Even though total inventory decreased, the drop represented the smallest month over month decline since July of last year and "follows much larger monthly drops of 7.5% and 8.1% in February and January," the study found.
"Home value growth kept soaring and the rental market rebound carried on in March — but signs are emerging that the nation’s ongoing inventory squeeze may be starting to ease somewhat, just in time for the start of the traditionally busy spring home shopping season," the study said.
https://www.msn.com/en-us/money/realestate/seattle-sees-monthly-increase-in-housing-inventory-prices-continue-to-rise-report/ar-BB1g4VB4
