May & June Market Outlook

As we move through late spring into early summer, the Puget Sound market is settling into a more balanced and strategic environment compared to the high-intensity markets of prior years. Inventory has increased notably across the region, giving buyers more options and shifting some leverage back into their hands. In King County alone, active listings have risen significantly year-over-year, signaling a loosening (though still competitive) market.

At the same time, pricing has remained relatively stable overall, with only modest year-over-year movement depending on property type—highlighting that while demand has softened slightly, values are holding.

Buyer behavior continues to reflect caution. Many are taking longer to make decisions due to affordability concerns and broader economic uncertainty, even as mortgage rates hover in a more manageable range than recent highs.

What Brokers Can Expect in May & June

• More inventory = more competition among sellers

• Buyers regaining negotiating power, especially on homes that sit longer

• Continued activity for well-priced, move-in-ready homes, which can still attract multiple offers

• Longer days on market overall, with a clearer divide between “dialed-in” listings and those that miss the mark

• A more normalized seasonal peak—active, but not frenzied

• The market remains technically seller-leaning in many areas, but is transitioning toward balance

• Homes are still selling relatively quickly (often within a couple of weeks), though not as fast as last year

• Pricing strategy has become critical—many sellers are opting to price accurately upfront rather than reduce later