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Washington housing market in 2025

A new home buyer couple received the keys from their real estate broker.

Housing markets are localized. This article focuses on the Western Washington housing market in 2025, particularly the Eastside housing market. There was notable activity and a competitive environment for buyers and sellers during 2024. Even though the mortgage lending rates were significantly higher throughout 2024 than at the start of 2023, there was a slow but steady increase in home prices. Over half the new listings went under contract in less than 30 days throughout 2024, indicating a competitive market. Spurts of increased buying activity followed the short-lived drops in mortgage lending rates. But overall, there was minimal improvement in the lending rates. I referred to this seesaw of lending rates in a few previous articles. What would the housing market in 2025 bring us?

 

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