June 24, 2022
President's Message
I was asked recently how we REALTORS® should deal with a changing market. Perhaps we’ve reached the peak of the seller’s market we’re in right now. Have you noticed the increase in inventory and days on market? Surely you’ve been watching the interest rates rise. The easiest way to adjust to a changing market is to stay true to the processes you have in place. The method for valuing a property isn’t going to change. The change will be in the discussion with the seller about expectations and timing. The method for determining the value of a house won’t change, only the discussion with the buyer about the amount of the offer and terms will. The decisions will always be made by our clients. We are the experts in the current market conditions. You should have methods for determining facts; property values, local amenities, market conditions and mortgage requirements. Your clients will then seek your advice to get them the best outcome for their situation. The short answer to how to deal with a changing market? Keep a vigilant and open mind!

Bill Fain
2022 President,
Kent Washington Association of REALTORS®
KWAOR Foundation
Save the Date!
Rhode Island’s supply of homes up slightly in May

Single-family home sales fell year-over-year by 8% in May while the median price of those sales rose 14.8%, to $419,000. While still well below the six-month supply indicative of a balanced market, May’s inventory of single-family homes for sale was the highest it has been since October of last year. 

Read the full article and see accompanying statistics.

NAR News
On Tuesday, June 21, Dr. Jessica Lautz, NAR's vice president of demographics and behavioral insights, offered an exclusive Homeownership Month briefing for Members of Congress and staff.

June is National Homeownership Month, when we promote the benefits of homeownership and recommit to creating opportunities for future homeowners.

REALTORS® strive to ensure all Americans have the opportunity to achieve homeownership, the centerpiece of the American Dream and the pathway to economic well-being and intergenerational wealth-building.

NAR applauds the White House for marking National Homeownership Month with a new proclamation affirming the importance of expanding access to safe, affordable housing.
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