Over the past few years, many buyers in Tacoma, Puyallup, Auburn, Sumner, SeaTac, Des Moines, Burien, Normandy Park, Lake Tapps, and Bonney Lake felt priced out of the market. With home prices climbing and mortgage rates hitting new highs, affordability was a major hurdle.
But as we wrap up the year, encouraging signs are pointing toward a shift that is opening new opportunities right now.
As Kim Morgan Storey, the Top 1 Real Estate Agent serving these communities, I’m finally seeing the math work in favor of buyers again.
Ready to see how much more home you can afford today compared to last summer?
Call Kim at 206-225-8325 for a free buyer consultation. Let's run the new numbers together.
1. Mortgage Rates Are Coming Down
Earlier this year, mortgage rates hovered near 7%. Today, we are seeing them dip closer to 6.2%. That might seem like a small percentage difference, but it translates to real money in your pocket.
On a typical mortgage, this drop saves you hundreds of dollars every single month compared to the peak rates of 2024. This drop has already sparked stronger buyer demand, so the window to lock in these savings before competition heats up is open now.
Curious what your monthly payment would look like at 6.2%? Call Kim at 206-225-8325. I can connect you with trusted local lenders who can get you pre-approved fast.
2. Home Price Growth Has Stabilized
After years of rapid, double-digit increases, home prices are finally stabilizing. In many parts of the South Sound, we are seeing prices grow at a much more manageable, low single-digit pace.
In some neighborhoods, prices have even dipped slightly month-over-month, creating a rare opportunity for buyers to find homes that fit their budget without sacrificing their wish list.
Looking for a deal in Auburn or Sumner? Call Kim for a market analysis. I know where the hidden value is in today's market.
3. Wages Are Rising Faster Than Prices
Here is the statistic that changes everything: Wages are now rising faster than home prices.
The Bureau of Labor Statistics reports wages are up nearly 4% year-over-year. Since paychecks are now outpacing home price growth, you effectively have more financial breathing room. Your income is stretching further just as housing costs are softening—a powerful combination we haven't seen in a long time.
What This Means for You
For buyers across Tacoma, Puyallup, Auburn, Sumner, SeaTac, Des Moines, Burien, Normandy Park, Lake Tapps, and Bonney Lake, this "triple win" of lower rates, stabilizing prices, and rising wages makes homeownership more affordable than it has been in months.
If you’ve been waiting for the right time to buy, this season could be your window of opportunity.
Call Kim Morgan Storey today at 206-225-8325. Let’s get you into a home you love with a payment you can afford.
