Over the last 24 hours in King County, 159 listing went pending. Meaning mutually accepted offers were agreed upon. In addition, 29 listings sold and 45 homes either came to or were put back on the market.

Like many sectors of the economy, residential real estate is experiencing disruption and uncertainty just when the vigorous spring market was ramping up but the real estate market in Washington remains strong. Many brokers are conducting virtual showings for clients and hosting virtual open houses for potential buyers. In addition to property photos, many listings have virtual tours where potential buyers can view videos and even remotely "walk-through" the property. Brokers are also continuing to conduct in-person showings, while remaining cognizant of social distancing recommendations.

The good news is that it’s a great time now for both buyers and sellers. Buyers have access to extremely low interest rates and those sellers in the market are motivated. For sellers, the continued low inventory and expected slowing of new listings over the next few weeks means their homes can be seen now like never before. With social distancing guidelines in place, buyers and sellers can take advantage of historically low interest rates in the mid-threes. With inventory shortages in many price ranges, the focus remains on each new listing.

Homeowners and renters across the country are experiencing the financial impacts of Covid-19. Read more to know how you can figure out if your lender or servicer can offer you any forms of assistance available...