Aug 12, 2026 · 20 min
Housing forecast weighs inventory against job growth
The Midyear Housing Forecast
The episode explains how buyers and sellers can act in a slower, more negotiable market without waiting for a dramatic rate shift.
- 1Job growth remains the leading indicator behind Northwest housing strength, while flatter employment growth has cooled activity.
- 2More unsold inventory gives buyers negotiating room and raises the stakes for sellers to price and prepare competitively.
- 3AI can streamline home searches, but brokers remain central to advice, representation, pricing, and negotiations.
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Lennox Scott argues that motivated buyers and sellers can act now, provided they use inventory conditions and coordinate their decisions strategically.
The brief
Lennox Scott, chairman and CEO of John L. Scott Real Estate, discusses the firm’s 2026 midyear forecast, linking housing activity to inventory, jobs, and buyer demand.
AI is making searches faster and more personalized through voice tools, property recommendations, and open-house discovery, but it does not replace brokers’ judgment or negotiating role.
The market’s sales-intensity measure shows a clear contrast with the COVID-era rush: homes move according to the balance between available inventory and demand.
Scott’s practical advice is asymmetric: sellers must be market-ready on day one, while buyers can negotiate on longer-listed homes and use contingencies on new listings.
The late-2026 and 2027 outlook depends on broader economic improvement, including job growth, inflation, and potentially lower oil prices—not a single turning point in rates.
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