Windermere Real Estate's Q2 2026 Regional Report Shows a Housing Market Rebalancing Across the West

Jeff Tucker, Principal Economist, Windermere Real Estate

Seattle remains buyer-friendly as Portland, Sacramento, Spokane–Coeur d'Alene, and Salt Lake County swing back toward balance; Northwest WA still favors buyers

SEATTLE, WA, UNITED STATES, August 4, 2026 /EINPresswire.com/ -- Despite a spring selling season disrupted by fallout from the Iran war, which pushed mortgage rates back up to an average of 6.41% for the quarter,

Windermere Real Estate's newly released Second Quarter Regional Real Estate Report finds housing activity across its nine-state Western footprint held up better than expected.

Sales rose year-over-year in five of the six markets Windermere tracks closely, and several regions saw inventory growth cool or reverse entirely, a sign that some corners of the region are shifting away from the buyer-friendly conditions of the past two years.

“The spring selling season proved surprisingly resilient given everything working against it,” said Jeff Tucker, Principal Economist at Windermere Real Estate. “We're seeing a real split emerge as Seattle is still working through elevated inventory, while Portland, Sacramento, Spokane–Coeur d'Alene, and Salt Lake County are all showing early signs of swinging back toward balance. Anyone buying or selling this year needs to pay attention to hyper-local conditions, because the story looks very different within the individual markets.”

Market-by-Market Highlights:

Greater Seattle Area (King, Snohomish, Pierce, and Kitsap Counties): The region remained the most buyer-friendly of the six markets. Active listings kept climbing year-over-year, though the pace of growth slowed to 16% in June, and median sale prices were flat to slightly lower than a year ago. Closed sales lagged early in the quarter before edging up 1% year-over-year in June.

Greater Portland Area (Multnomah, Washington, Clackamas, and Clark Counties): Portland swung from a buyer's market back toward balance. Active listings fell 6% below year-ago levels by June, while sales climbed 9% for the quarter and 13% in June alone. Prices remained about 2% below year-ago levels.

Greater Sacramento Area (Sacramento, Yolo, El Dorado, and Placer Counties): Inventory declined 8% year-over-year by June after peaking in 2025, and closed sales rose 8% for the quarter, including a 15% jump in June. Days on market fell below year-ago levels for the first time since 2024.

Northwest Washington (Skagit, Whatcom, San Juan, and Island Counties): Conditions continued to favor buyers, though growth in active listings decelerated to 9% year-over-year in June. Closed sales matched last year's total for the quarter overall but grew 8% in June, hinting at a possible rebound ahead.

Spokane, WA and Coeur d'Alene, ID (Spokane and Kootenai Counties): Inventory growth cooled sharply to just 2% year-over-year in June after years of double-digit gains. Closed sales rose 5% for the quarter, with June sales up 12% year-over-year, signaling renewed buyer demand.

Salt Lake County, Utah: Active listings fell 6% below year-ago levels, and closed sales rose 5% for the quarter. Median sale prices posted year-over-year gains through June, suggesting the market may be tilting back toward sellers.

“Looking at Q3 potential, it would stand to reason that an eventual cease to hostilities in Iran along with cooling inflation could bring sidelined buyers back into the market in the third quarter,” adds Tucker. “Concurrently, sellers who delayed listing this spring may become more motivated rather than waiting for next year. That said, summer remains the hardest season to forecast, and we encourage buyers and sellers to work with a local agent who can speak to their specific market's conditions.

The full Second Quarter Regional Real Estate Report, including charts for each market, is available by clicking HERE.