May 2025 Newsletter

MAY NEWSLETTER

Personal Note

Hello friends,

May is here, and so much is happening—both in the real estate market and in our every day lives!

On the real estate front, we’re seeing a noticeable shift. Inventory is up across the local market, which means buyers have more options than they’ve had in a while. Price drops are becoming more common as sellers adjust to the competition.

Outside of real estate, it’s that whirlwind time of year when soccer tryouts stir up all the nerves (for kids and parents alike!), baseball games are in full swing—and let’s be honest, they’re just more fun when the sun is finally shining. I’m also hearing from many families that summer travel plans are starting to come together, which always brings a mix of excitement and logistics.

Whether you’re thinking of making a move or just trying to keep up with the calendar, I’m here for you. Wishing you a smooth, sunny, and successful May!

Warmly,

Tanya

Housing Market

Puget Sound Energy (PSE) has proposed substantial tariff increases for new electrical services, including:

A nearly 30% increase in standard charges for new line extensions and service lines.
A 37% increase for line extensions to new housing developments (plats), raising costs to $82.69 per foot.

These proposed hikes are currently under review by the Washington Utilities and Transportation Commission (UTC). The Building Industry Association of Washington (BIAW) has expressed strong opposition, stating that such increases could add between $760 and $1,500 per housing unit, further exacerbating the state's housing affordability crisis. BIAW emphasizes that with 80% of Washington households unable to afford a median-priced home, additional costs could push homeownership further out of reach.

At the federal level, new tariffs on imported construction materials are poised to increase homebuilding costs significantly:

Tariffs on Canadian lumber have risen to 14.5%, with potential increases up to 34.5%.
These tariffs could add a substantial amount to the overall cost of new home construction.

The National Association of Home Builders warns that these increased costs may reduce the supply of new homes and drive up prices for buyers.

Read the full article HERE.