
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?