Homes are selling at or above listing price 31% of the time nationwide (fairly stable) down from a peak of 40% in Q2 of 2018. In Seattle this figure is closer to 50% and in San Francisco it is at 70%.
Rates – in response to tariff talks, rates improved again this week by approximately 1/8% in most programs as the 10 Year US treasury note dropped to its lowest level since September 2017.
Appreciation continues to steadily march forward at a nearly 5% year-over-year. If you purchased a $300,000 home in March 2018 it would be worth over $314,700. The largest gains were in the Mountain region
Portland – saw increased activity in April with a 5.5% year over year gain in listings and a 20.1% increase from March. Closings are up 10.4% from March and 4.5% year over year. Days on market decreased to 53 days with inventory at 2.2 months.
*Thanks David Caldwell for the local update