S
EATTLE — The number of active real estate listings in Washington state surged to 19,837 in June, a 38.8% increase from the same period last year and an 8.3% jump from May, according to data released by the Northwest Multiple Listing Service (NWMLS). All 27 counties in the region saw double-digit gains in active listings.

    The boost in inventory suggests that the housing market may be shifting towards a more balanced state, analysts said. "This increase in available homes and softening of home prices indicates a re-balancing of housing trends," said Selma Hepp, an economist with Cotality.

    The median home price rose 1.5% from May to $670,000, but remained 3.1% higher than the same period last year. High-cost counties included San Juan ($1,035,000), King ($913,563), and Snohomish ($775,000). Despite high mortgage rates averaging 6.77%, closed sales increased 1% year-over-year to 6,694.

    Some counties saw significant spikes in closed sales, including Adams (+55.6%), Columbia (+33.3%), and Lewis (+29.7%). However, Kitsap, Snohomish, Thurston, Pierce, King, and Skagit counties recorded the lowest months of inventory, indicating ongoing competition in those markets.

    As prices moderate, opportunities may open up for buyers who have been priced out, which could help stabilize the home market, Hepp said.