The number of homes for sale across King County jumped 44 percent in July from a year ago, the biggest increase in a decade. (Greg Gilbert/The Seattle Times)
King County home prices have fallen from the peak reached earlier in the year as home sales hit their lowest point for the month of July since the market bottomed out in 2012.
By Mike Rosenberg
Seattle Times business reporter
Homes are sitting unsold for weeks. Bidding wars are becoming less common. More sellers are even dropping their asking price to attract buyers.
For the first time in four years, the Seattle-area real-estate market is finally starting to trend in a positive direction for buyers, though only after many were already priced out following years of punishing price hikes.
The change began suddenly in May — normally the peak buying season — and has only accelerated since, according to new data released Monday.
The number of homes for sale across King County jumped 44 percent in July from a year ago, the biggest increase in a decade and the third straight month of huge inventory growth, according to the Northwest Multiple Listing Service. Inventory now exceeds 2015 levels, reversing three years of steep declines. Read the full story here.