Sometimes, it pays to wait for the right time to buy or sell a home in Washington State, Oregon, Idaho, California, or Colorado. And for buyers and sellers alike, today’s housing market may be ideal for both camps.
The current real estate market presents benefits for buyers and sellers for different reasons.
Let’s take a peek at the market today and help you understand why the current housing market is good news whether you’re buying or selling.
There are a couple of reasons why today is a great time for buyers to get into their local real estate market: low mortgage interest rates and low monthly mortgage payments.
The loan amount that buyers take out with their lender directly impacts how expensive or affordable their loans will be. A lower amount means less to have to repay the lender over the term of the mortgage.
But mortgage interest rates also play a key role in the overall cost of a home loan. The lower the mortgage rate, the better, as low mortgage rates give buyers more purchasing power.
Right now, the mortgage interest rate for a 30-year fixed-rate mortgage is currently 6.67%. If you look at where rates were last year, today’s rate is roughly the same. But that shouldn’t deter you from buying.
Considering the fact that home prices are high lately, some might think that buying a home is way out of their price range and affordability s a major issue.
But when you compare housing affordability of today compared to decades earlier, you will realize that affordability may not be as big of an issue as you may think.
Yes, homes prices are much higher today than they were years earlier. But it’s important to understand all factors involved in whether or not homes are more or less expensive compared previous years.
Over time, the prices of goods increase according to basic economics due to inflation, including housing. And when it comes to real estate, the actual home itself is only one factor involved in hosing costs. Mortgage interest rates also play a key role.
And while mortgage interest rates may be high right now, affordability is not as big of an issue when you adjust for inflation.
Today’s rate of 6.67% is still relatively low compared to decades earlier. For instance, the rate in in 1980 was 12.71%, and in 1990, it was 10.16%. Obviously, these rates are much higher than what we’re seeing today. So as far as mortgage rates go, now is still a great tme to buy.
Buying a home can sometimes have a monthly cost comparable to renting, although the comparison depends heavily on location, home price, mortgage rate, down payment, taxes, insurance, and maintenance costs.
According to recent data, median monthly housing costs for homeowners with a mortgage were $2,035, compared with median gross rent of $1,487 for renters.
Whle your rent goes towards helping your landlord pay their mortgage, each mortgage payment you make as a homeowner will go towards building equity in your home.
Not only can you profit handsomely from this equity if you ever sell in the future, but you may also be able to use it to borrow against if necessary at some point when a large sum of money is required.
For instance, a second mortgage or home equity loan can be tapped into if you have enough equity built up in your home. That’s something that only homeowners can take advantage of, not renters.
Buyers have plenty of mortgage programs that can be taiolred to their needs. Here are some examples:
Homebuyers certainly have very good reasons to jump into the real estate market these days. But the good news is not all reserved just for buyers: sellers can also benefit from putting their homes up for sale today for a couple of good reasons: quick sales and multiple offers.
Sellers can expect the sales process to move relatively quickly when they list their homes on the market.
Today, the average DOM today is 49 days (as of August 2026) according to RedFin, which is roughly the same as the same time last year.
That means you won’t have to spend so much time having to keep your home in show-ready condition at all times to accommodate all the showings, many of which may be last-minute.
Instead, you can minimize the stress of having to sell your home when the market is hot for sellers and demand is high among buyers.
And if you stage your home professionally and price your home right with an experienced real estate agent, you can expect your home to sell even faster.
In a hot seller’s market, the demand for housing is strong among buyers. That means there is a higher chance that you may receive more than one offer for your home from several buyers.
In this case, you’ll have the distinct opportunity to choose the best offer in terms of highest offer price, highest earnest money deposit, and most convenient closing date for you.
According to Redfin, about 28% of U.S. homes sold for more than their listing price in the four weeks ending July 19, 2026. Meanwhile, about 32% of homes went off the market within two weeks of being listed, while the median home spent 41 days on the market.
Let’s connect to discuss current trends and what they mean for you so you can capitalize on the unique opportunities you have as a buyer or seller in Washington State, Oregon, Idaho, California, or Colorado.
Looking for a home loan? If so, Sammamish Mortgage can help. We are a local mortgage company from Bellevue, WA, serving all of Washington, Oregon, Idaho, California, and Colorado. We offer many mortgage programs since 1992, including our Diamond Homebuyer program and Cash Buyer program. Visit our website to use our mortgage calculator or to get an instant rate quote. Contact us today with any questions you have about mortgages or to get pre-approved.
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