Have We Hit the Bottom of the Seattle Real Estate Market?

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?

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