Back in September, the Seattle housing market entered its “Great Reversion” phase, where the real estate landscape cooled and appeared to inch back toward the pre-pandemic market. And last month, rental prices also took a tumble.
All this means would-be buyers hold much more power than they did a year ago, even a few months ago. “Buyers are benefiting from more choices in inventory and less competition, while sellers are more negotiable when it comes to contingencies,” says Northwest Multiple Listing Service director Meredith Hansen in a release.
It’s not a full-on buyer’s market just yet, though. Some areas of Seattle are still showing year-over-year price growth, suggesting buyers are making offers
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