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Puget Sound housing market remains ‘frenzied’ heading into fall months

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Housing activity in the Puget Sound region remained “very active” last month even as more inventory hit the market, according to a new report from the Northwest Multiple Listing Services (NWMLS).

While a slight cooldown in the market was detected in the late summer with less homes going under contract, the activity has bounced back with the report showing that brokers added a total of 11,373 new listings for single-family homes and condominiums in September. However, inventory remains historically low in the competitive market with prices only projected to increase in the next year.

NWMLS brokers reported a total of 7,757 active listings in September, slightly up from August’s high of 7,425 active listings but down 14.8% compared to the same time last year. Inventory for single-family homes in King County took a steep plummet in September, with total active listings down 32.5% from a year ago.

Across all 26…

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