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Uncategorized 10 Predictions for the 2021 Housing Market by Windermere’s Chief Economist by Matthew Gardner   1. Economic Growth Will Pick up – But Not Until the Summer As you are all aware, the job recovery has slowed significantly over the past few months and the December number – which saw employment levels actually drop by 140,000 jobs – was really quite appalling. But… as bad as […]
Uncategorized Think This Is a Housing Crisis? Think Again. With all of the unanswered questions caused by COVID-19 and the economic slowdown we’re experiencing across the country today, many are asking if the housing market is in trouble. For those who remember 2008, it’s logical to ask that question. Many of us experienced financial hardships, lost homes, and were out of work during the […]
Uncategorized COVID-19 REMAINS A WILDCARD FOR THE SEATTLE REAL ESTATE MARKET MARCH 13, 2020 [THE STATE OF] REAL ESTATE This is the time of year when our real estate market starts to heat up, but many are  questioning what impact the coronavirus outbreak may have. For now, real estate industry experts say coronavirus remains a wild card. The lending and refinancing side of real estate has […]
Uncategorized Amid coronavirus concerns, Seattle homebuying frenzy continues   The condo a quarter-mile away from the Life Care Center of Kirkland — the long-term care facility at the epicenter of the U.S. novel coronavirus outbreak — hit the market at $365,000 last week, one day after the first resident of the nearby facility died of the flulike illness. By Monday, roughly 34 groups […]
Uncategorized LOCAL MARKET UPDATE – FEBRUARY 2020 New jobs and low interest rates continue to fuel the housing market boom. While January is traditionally a slower month for activity, the new year saw steady buyer demand. With the number of sales exceeding new listings, all indicators point to a strong spring market. EASTSIDE The tech industry on the Eastside continues to grow […]
Uncategorized LOCAL MARKET UPDATE – JANUARY 2020 EASTSIDE Homes sold briskly on the Eastside in December in all categories, including the luxury market. The number of listings were down nearly 50% from a year ago and the area had under a month of available inventory. That lack of inventory helped bump the median price of a single-family home up 4% from a […]
Uncategorized 2020 Economic & Housing Market Forecast Posted in Economics 101 Videos and Market News by Matthew Gardner, Chief Economist, Windermere Real Estate As we head toward the end of the year, it’s time to recap how the U.S. economy and housing markets performed this year and offer my predictions for 2020.   U.S. Economy In general, the economy performed pretty much as I expected this year: […]
Uncategorized LOCAL MARKET UPDATE – DECEMBER 2019 EASTSIDE With just over a month of available inventory, demand on Eastside remains very strong. Sales are brisk, with 45% of single-family homes selling in 15 days or less and 20% of homes selling for over list price. The median single-family home price in November rose 2% from a year ago to $900,000 and was […]
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Uncategorized THE GARDNER REPORT – THIRD QUARTER 2019 ECONOMIC OVERVIEW Washington State employment has softened slightly to an annual growth rate of 2%, which is still a respectable number compared to other West Coast states and the country as a whole. In all, I expect that Washington will continue to add jobs at a reasonable rate though it is clear that businesses are […]
Uncategorized LOCAL MARKET UPDATE – OCTOBER 2019 While fall usually brings a decrease in sales activity, the opposite was true in September. The number of listings on the market dropped by double digits and home sales rose. It is still a seller’s market, however prices have stabilized. With interest rates near historic lows and employment levels at historic highs, the housing market […]
Uncategorized Housing to Remain Strong Heading into the Fall Though mortgage rates jumped in September, they remain down from where they were a year ago. The U.S. weekly average 30-year fixed-rate mortgage was 3.64% for the week ending September 26th, down 1.08 percentage points from a year earlier. Rates fell for most of this year and lower rates have translated into a stronger housing […]
Uncategorized The fall housing market expected to be more of the same By Michele Lerner September 10 High prices and a limited number of homes for sale have been the hallmarks of the Washington area’s housing market for years. Even as other markets nationwide have experienced increases in the number of homes for sale and slowing price increases, the capital region remains a seller’s market in many neighborhoods. […]
Uncategorized Seattle home prices still dropping as Tacoma home values rise, study finds The average July home sales price there was $375,000 – more than $20,000 above the average at the same time last year, for an increase of 5.6 percent. Not only that, but nearly half of the homes in Tacoma – some 46.8 percent – were sold above their list price in July. Homes sold quickly […]
Uncategorized LOCAL MARKET UPDATE – JULY 2019 The market in our region appears to be moderating. Inventory is up, prices are relatively stable and homes are taking a bit longer to sell. However, with less than two months of available inventory, supply is still far short of demand. Steady buyer activity, low interest rates and a thriving economy are making for a […]
Uncategorized SEATTLE MAKES AFFORDABLE HOUSING MANDATORY IN UPZONED NEIGHBORHOODS Architects and developers building across much of Seattle will soon have to meet the city’s new Mandatory Housing Affordability (MHA) requirements, a set of rules passed with a spate of recent comprehensive zoning changes designed to ensure that “new commercial and multifamily residential development contributes [new] affordable housing.” The MHA regulations were approved this spring and are […]
Uncategorized LOCAL MARKET UPDATE – JUNE 2019 The pace of the housing market gained momentum in May, bringing an uptick in open house traffic and offers. A drop in interest rates and increased inventory were great incentives for buyers. Despite the increase in supply there is less than two months of inventory available – half the national average and far short of […]
Uncategorized Seattle housing market stays cool, while Tacoma and suburbs keep up the heat By  Paul Roberts  Seattle Times business reporter The Puget Sound housing market continues to splinter into hot and cold sectors — with substantially more heat the farther south you move — but the trend may be moderating as buyers and sellers adjust their expectations. In Seattle and King County, home prices in May were down […]
Uncategorized LOCAL MARKET UPDATE – MAY 2019 April brought good news for homebuyers. Inventory increased, prices continued to moderate and mortgage rates remained low. While buyers have more choices, there is still less than two months of inventory on the market. Demand is expected to remain strong as we head into the prime spring real estate season. Eastside >>>Click image to view […]
Uncategorized Seattle-area housing market splits into 2 dramatically different pieces The Seattle-area housing market has clearly split into two: Buyers looking for higher-end homes in pricier cities like Seattle and Bellevue aren’t paying any more than they did a year ago. Meanwhile, those shopping around for something resembling a deal, perhaps in Tacoma or Everett, are still confronted with the same old hot market from […]
Uncategorized 2019’s Housing Market Is Likely to Be Stronger Than We Thought—Here’s Why By Clare Trapasso | Apr 23, 2019 Despite a real estate slowdown gripping the nation, this year’s housing market is expected to be busier than realtor.com® economists originally predicted late last year. That means more home sales—and higher prices—are on the way. The anticipated uptick in activity is due to lower mortgage rates, which make homes more affordable for buyers. […]