04/11/2026
SPRING 2026 MARKET UPDATE:
More sellers are finally making moves - but buyers are still navigating a market that hasn't made it easy on them.
March brought a familiar tension to the Puget Sound market: inventory climbing sharply while sales held flat. Across the NWMLS, new listings jumped roughly 29% year over year, yet closed sales barely budged. That divergence tells a clear story - sellers are done waiting, even if it means leaving a low-rate mortgage behind. Buyers, meanwhile, are still wrestling with affordability.
"Washington continues to mirror national trends by adding listings at a rate that is far outpacing any growth in sales. Sellers have decided they need to get on with their lives - however, potential purchasers cannot afford to buy." Steven Bourassa, Director - Washington Center for Real Estate Research
Rates had briefly dipped below 6% in February, which felt promising. Then geopolitical uncertainty - including the ongoing Iran conflict - pushed them back to 6.38% by late March, and they've continued climbing to 6.46% since. Higher energy prices and inflation concerns are the primary drivers, and a softening job market is adding another layer of hesitation for prospective buyers.
That said, I'm seeing real energy out there. Showing activity across the NWMLS rose 19% month over month heading into spring. We're still slightly below last year's peak, but that kind of acceleration is a meaningful signal. Engaged buyers are out there—they're just being thoughtful and selective.
If you're thinking about making a move this year - whether buying, selling, or simply wanting to understand what your home is worth in this market - I'd welcome the conversation. Reach me anytime at (206) 240-5193 or [email protected].
www.LaraWeasea.com