The latest sign of the Seattle area’s sluggish housing market? A relative glut of homes sat on the market in May, typically the height of Seattle-area homebuying season.

The slowdown reflects a confluence of elevated mortgage rates and economic uncertainty. In that environment, some buyers are still battling it out in bidding wars while plenty of others take a breather, leaving some corners of the market “dead in the water,” in one local agent’s words.

The story isn’t totally new. While the early months of this year saw an uptick in Seattle-area home sales, deals dipped in April as President Donald Trump announced new tariffs, plunging the stock market and discouraging some home shoppers.

By the end of May, pending single-family home sales had bounced back a bit, but plenty of buyers co

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