June Housing Market Update: Buyers Have More Choices—But the Best Homes Are Still Moving

If you've been waiting for the housing market to become a little more balanced, we're continuing to move in that direction.

The Northwest Multiple Listing Service (NWMLS) released its June market update, and one trend continues to stand out: inventory is growing. Buyers have more homes to choose from than they've had at any point this year, creating more opportunities to be selective and negotiate than we've seen over the past few years.

That doesn't mean it's become a buyer's market—but it is becoming a healthier one.

More Inventory = More Opportunity

Active listings across Washington increased more than 16% compared to last June, giving buyers significantly more options than they had a year ago.

We're seeing the same trend here around the Greater Seattle area and Eastside. Buyers aren't feeling as rushed, and depending on the home, we're seeing opportunities to negotiate repairs, seller-paid closing costs, interest rate buydowns, and other concessions that were much harder to secure just a couple of years ago.

This is exactly why understanding today's market matters. Many buyers are still making decisions based on the ultra-competitive market of 2021 and 2022—but today's environment is very different.

Buyers Are Still Buying

Even with mortgage rates remaining in the mid-6% range, buyers haven't disappeared.

Closed sales increased from both last month and this time last year, showing that well-prepared buyers are continuing to move forward. Many are simply taking a little more time to compare homes before making an offer—which is exactly what more inventory allows.

Sellers Still Need a Strategy

One misconception is that more inventory means homes aren't selling.

That's not what we're seeing.

Well-priced, well-prepared homes in desirable locations are still attracting strong interest and selling quickly. The biggest difference today is that buyers have choices. If a home is overpriced, poorly presented, or needs work without the price reflecting it, buyers are far more likely to move on.

Today's market rewards preparation and pricing more than ever.

Down Payment Assistance Continues to Expand

One statistic that often gets overlooked is that nearly three out of every four listings in Washington qualify for some form of down payment assistance program.

Many buyers assume they need a large down payment to purchase a home, but that's often not the case. Depending on your situation, there may be financing options or assistance programs available that can make homeownership more accessible than many people realize.

My Take

Overall, June continued the trend we've been watching for several months:

• Inventory continues to improve.

• Buyers have more negotiating power.

• Sellers can absolutely be successful—but preparation matters.

• The best opportunities often come from understanding what today's market looks like, not the market from a few years ago.

Whether you're thinking about buying, selling, or just trying to understand where the market is headed, the right strategy has become more important than timing the market itself.