The housing market has been adjusting since the Fed increased the interest rate for the first time about a year ago. Homebuyers have, begrudgingly, become accustomed to the current rates, which remain historically low. The housing inventory also remains low. The housing market in the spring of 2023 is comprised primarily of serious buyers and sellers.
All real estate is local. This article focuses on the real estate market in Western Washington, more specifically, the Eastside. Several factors govern the direction in which the housing market might move. We will discuss two fundamental aspects.
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