Keeping a close eye on the September housing signals, I’ve noticed a few key shifts worth sharing with my Puget Sound clients and friends. Pending home sales just turned slightly negative year-over-year, breaking an eight-month streak of gains—higher borrowing costs have definitely cooled some buyer momentum lately. Contract signings have softened, homes are taking about 60 days to sell, and we’ve seen mortgage rates rise from around 6% in late Q1 to the high-6% range now.

On the plus side, buyers are gaining a bit more leverage: the median list price dipped to $424,500, nearly 20% of listings saw price cuts, delistings dropped compared to last year, and active inventory inched up about 4%. Still, national inventory remains roughly 11% below typical pre-pandemic levels, reminding us there’s an underlying housing shortage even as some buyers pause.

Experts continue to watch seller delistings, evolving pricing strategies, and whether regional differences will narrow as everyone adapts to these firmer borrowing costs. With over 16 years guiding clients through all market cycles, I know the value of experience and local insight—especially now, when thoughtful strategy and steady communication matter more than ever.

For many Washington homebuyers, saving for a 20% down payment has turned into a marathon: it now takes a household earning the median $104.8K income an average of 11.5 years to reach that milestone. Home values have soared across our state—typical prices have climbed to $604.1K, a rise of over 96% in the past decade—while median incomes have gone up just 56%. For those earning minimum wage, the path is even steeper: reaching that 20% down payment target could take nearly 34 years, which really highlights the growing gap in affordability. Much of this pressure has been driven by Seattle’s tech-fueled demand, plus the influx of high earners attracted by our lack of state income tax. As a result, more buyers are looking north and south to Snohomish and Pierce counties. Yet even as people stretch their commutes, prices keep pace, making it just as challenging to get a foothold. After 16 years of guiding clients through these shifting landscapes, I know that understanding the realities—and the opportunities—of our market is the first step toward making smart, confident decisions about your next move.

Labor Day in the United States celebrates the contributions of workers everywhere, while also unofficially marking the final big summer weekend before fall takes over.
It’s known for backyard barbecues, road trips, and that classic tradition of buying things you didn’t know you needed because “it’s on sale.”
Beaches, parks, and grills reach peak activity as everyone tries to squeeze every last drop of summer fun out of the long weekend.
Happy Labor Day! Wishing you a fun, easygoing weekend filled with good vibes, great food, and absolutely no thoughts about Monday.

In the current market, homeownership costs extend beyond mortgages, insurance, maintenance, and taxes, with HOA assessments becoming a key expense buyers should review carefully.
For homes in managed communities, aging infrastructure and higher insurance costs have been pushing assessments upward, making association budgets and reserve planning more important.
Experts said boards need to maintain assessments and raise them consistently so communities can keep pace with ongoing expenses and stay financially viable.
Before buying, shoppers should ask about monthly fees, whether reserve funds exist, and if those reserves can cover major capital expenses adequately.
Condo buyers especially should learn whether properties face issues that may require special assessments in coming years, since board transparency can ease community concerns.