High Mortgage Rates Dampen Seattle's Once-Hot Housing Market

Mortgage rates hit 23-year high in September, worsening budget crunch for homebuyers in expensive Seattle market.

Median home prices mostly stagnant in September across Greater Seattle region compared to a year ago.

High interest rates and still-limited inventory keeping a lid on once-hot housing market.

Homebuying activity down across region, with 12% fewer closed sales in King County.

Some builders dropping prices on new homes by 10% or more to attract wary buyers.