Have you been hearing we’re in the perfect storm for Seattle Area Real Estate for a while now…? Well it really isn’t hype. Have we hit the bottom of the Seattle Area Real Estate Market? Here’s the secret; by the time we KNOW we’ve hit bottom of the turbulent real estate market, we’ll be on the way back up. It’s fact; here are the signs:
- 3- quarters of record sales recorded in 2011 (qtrs 2, 3 & 4) over prior years
- Record low interest rates…sounds like a line, but it takes a 10% price reduction to make up for 1% of interest rate reduction…Interest rates are POWERFUL right now!
- Prices have come down since 2008, but the signs are there that we’re stabilizing at a Balanced Market (source: NWMLS)
- New construction is rising by approx. 40% for 2012 and even more for 2013 & 2014. This has been stagnant since 2008.
- Seattle Economics are diverse and strong (consider all of the large companies here)
Where do YOU think we are? Are you still waiting to find the bottom?