Seattle leads housing market downturn as pending sales drop 24 percent

Seattle experienced the largest fall in homes going under contract among the 50 largest United States metropolitan areas in September 2026. Data from Redfin shows pending sales in Seattle fell 24.4 percent year over year, grihik.com reported. [1]

Housing inventory in the area is expanding rapidly as transactions slow down. According to grihik.com, Zillow figures show active listings in Seattle jumped 20.3 percent year over year in September, which was the largest increase among the top metros. [1]

The downturn extends across the West Coast property market. Data cited by grihik.com indicates pending sales dropped 16 percent in Los Angeles, 15.8 percent in San Diego, and 15.5 percent in Anaheim during September. Redfin noted that high housing prices, rising mortgage rates, and an uneven local job market are curbing homebuyer demand in Seattle. [1]

Seattle is the most populous city in Washington state with an estimated population of 784,777 in 2025. Its metropolitan area comprises more than 4.15 million residents. [9]