June 2022 – Welcome to Leslie Swindahl's Real Estate Blog

A slight bump in inventory is a good thing, but won’t be enough to
satisfy the demand. Here’s what local real estate expert, Frank Hawkins of Hawkins-Poe Real Estate, Fircrest WA, sees regarding the June
market for potential buyers and sellers.
When asked about shifting market conditions, Frank Hawkins,
President of Hawkins-Poe said, “The increase in inventory
is GOOD NEWS FOR THE HOUSING MARKET, but I
don’t think there will be enough new inventory to do much
more than slow down the price increases. There is still not
enough inventory to satisfy demand. Home sellers will need
to temper their pricing expectations but they are far from
losing money. Their gains are still there from previous years
of appreciation.”
“Home buyers will benefit from the increases in inventory
because market time will increase, there will be fewer multiple offers and sellers will be more respectful of requests
for inspections, appraisals and the protections of financing
contingencies. This will all bring BETTER BALANCE to the
home buying and selling experience,” stated Hawkins.
NWMLS members added 13,075 new listings to inventory
during May, up 9.7% from a year earlier and the highest
monthly number since June 2021. At the end of May, buyers
could choose from 8,798 active listings system-wide, up a
whopping 59% from a year ago when there were only 5,533
properties in the database. That is the largest selection since
September 2020 when there were 9,099 single family homes
and condominiums offered for sale across the 26 counties
served by Northwest MLS.
Pierce and Kitsap Counties both increased their number of
properties available from a year ago, but by a smaller percentage of increase. Pierce inventory increased by 65% from
737 listings in May 2021 to 1,214 in May of this year. Kitsap
had a smaller percentage of increase from 235 active properties in 2021 to 351 in May of 2022, a 39% increase.
Even with the healthy uptick in inventory, there is still less
than one month of supply area-wide (0.97 months). Twenty
of the 26 counties in the report are showing more than a
month of supply, with the tightest inventory (0.85 months or
less) in the four-county Puget Sound region of Pierce, Kitsap,
Snohomish and King counties. Both pending sales (mutually
accepted offers) and closed sales during May were down
from a year ago, but up from the previous month.
Members reported 10,563 pending sales of homes and
condos last month, up from April’s figure of 9,760, but down
from the year-ago total of 11,969. May 2022 closed sales
activity dipped slightly from a year ago (down about 3%)
but rose 9% from April. Buyers can expect to pay more for
homes and condos, although the increases may be moderating.
In conclusion, Hawkins wrapped up with, “More stable
market pricing conditions, with increases in the selection, will
aid home buyers in absorbing the increasing interest rates –
which should also be stabilizing. After all, interest rates in the
(5%) range are still extremely low historically.”
MONTHLY UPDATE
NWMLS members added 13,075 new
listings to inventory during May, up
9.7% from a year earlier and the highest monthly number since June 2021.

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***Settling Into Your New Neighborhood After You Move***

Whether you’re moving across town or across the country, it’s tough to feel like the new kid on the block — regardless of your age. Here are five great ways to make friends with your new neighbors and make the move into your new community.

Just Say Hi!Your new neighbors are busy and most likely won’t come knocking to help you unpack. So, if you want to meet your new neighbors, make the first step. Start by making the rounds through your new neighborhood and introduce yourself to everyone. Not only is this a great way potentially meet new friends, but it’s also a great time to get recommendations on things like local mechanics, gyms, grocery stores, and upcoming community events; great information to know after buying a new house.
Take the Kids Out to PlayIf you have children, go outside to play. Go to a local park. This will give you an opportunity to meet neighbors with children the same age as yours. Schedule a play date to get your families acquainted. Walking your children to the bus stop is a great way to meet several parents at once.
Host a Get-TogetherIf you don’t like the idea of going door to door to meet your neighbors, you can encourage them to come to you. The simplest way to do this is by hosting a meet and greet. As soon as you’re settled, plan a small party and invite only your new neighbors. Keep everything low-key and friendly. You shouldn’t ask them to bring anything. Be clear as to whether or not kids are invited to the get-together.
Become an Active Community MemberAfter buying a house and getting settled in, look for ways you can become an integral member of the community. Sign up to volunteer at things like your local pet rescue, school functions, or 4-H events. You should also consider participating in community rallies and charitable events. The more active you are in the community and the more people you’ll meet.
Talk to PeopleThe odds are pretty good that you will run into at least some of your new neighbors while you’re running errands around town. It’s so important that you make an effort to be friendly and make small talk with as many people as you can in the months after buying a house in a brand-new neighborhood. The few minutes you speak to a cashier, bank teller, or the person standing in line behind you could be the start of a new friendship.

When you buy a house, there’s plenty to be excited about during the packing and moving processes. Once you’re settled in, roll out the welcome wagon and meet your new neighbors. Your new house and neighborhood will soon be feeling just like “home sweet home.”