The Seattle Area Home Inventory is at a Record Low. We are Fresh out of Homes.
The Seattle area home inventory set a new record low in 2016. That’s according to the year-end report from the Northwest Multiple Listing Service (NWMLS).
The NWMLS recorded 121,468 mutually accepted offers (pending sales) during 2016. Only 113,305 new listings were added to inventory. The depleted Seattle area home inventory often led to competitive bidding and multiple offers for homes in the most desirable areas. [Read more…]