Here are a few highlights from the National Association of Realtors:
First-time buyers represented 29% of buyers, virtually unchanged from one year ago and one month ago.
22% of buyers were all-cash sales, down slightly from 24% last month and 23% in September 2021.
70% of respondents (Realtors) reported properties sold in less than one month. Down from 81% a month ago and down from 86% in September 2021.
90% of buyers purchased in a suburb, small town, rural, or resort area, up slightly from last month and one year ago.
Emily’s Take:
First-time buyers are out there and so are investors. The market is still moving quickly, with very little inventory available. Even though the market has softened with rising interest rates.
Consistent buyer demand and low inventory is preventing a serious market crash. Most parts of Seattle are still priced higher than they were at this time last year.
