Archive for the ‘Market Economics’ Category

Three Year Real Estate Wave Projected

Posted: April 15th, 2015 by Brad

The real estate industry is expected to further strengthen this year and continue to get stronger through 2017, according to a new report released from the Urban Land Institute Center for Capital Markets and Real Estate, which is based on a survey of the industry’s top economists and analysts. Survey respondents said that the residential, [...]

Interest Rates to Rise in June

Posted: April 15th, 2015 by Brad

The Federal Reserve is signaling that it will likely take action on increasing interest rates in two months, despite recent data that shows a weakened economy. The move would be the first rate increase since 2006. Two of the central bank’s officials said that disappointing job growth, manufacturing activity, and retail sales over the winter [...]

Early Spring Buyers Abound, Homes in Short Supply

Posted: March 11th, 2015 by Brad

Favorable weather and restored confidence are propelling home buying activity around Western Washington to the highest level in nearly a decade, according to Northwest Multiple Listing Service sources. “The pent-up demand being unleashed has rocketed pending sales back to the levels of our record year in 2006,” former MLS director Ken Anderson said. Buyers have [...]

Seattle’s Construction Boom

Posted: March 11th, 2015 by Brad

In case the cranes were not convincing enough, the Downtown Seattle Association just published a report that underscores Seattle’s growth spurt. Downtown is adding approximately 25 new jobs each day and netting 24 new residents every week according Jon Scholes, DSA president and CEO. To accommodate that growth, 15 million square feet of office space [...]

Where Have All The Sellers Gone?

Posted: February 12th, 2015 by Brad

In many areas of Seattle proper, available home inventory is down nearly 50 percent from a year ago, further perpetuating a market favoring sellers. “The current inventory of homes available for sale has never been lower in my 22 years as a real estate broker,” lamented Northwest Multiple Listing Service (MLS) director George Moorhead. King [...]

Luxury Market Upswing

Posted: February 12th, 2015 by Brad

Further evidence of a housing recovery is reflected in high-end sales. Northwest MLS members reported 2,069 sales of single family homes priced at $1 million or more, up nearly 28 percent from the 2013 total of 1,621 “luxury” sales. Condos priced at $1 million and up accounted for another 152 sales. A total of 878 [...]

Happy 2015! Market Predictions

Posted: January 14th, 2015 by Brad

We’re optimistic it will be a happy new year. The economy continues to pick up steam as the job market strengthens and oil prices plummet. Of course the only constant is change and our market is dynamic. The following are our predictions for the year ahead for our regional real estate market: 1) Foreclosures – [...]

Amazon Leads Downtown Housing Boom

Posted: December 10th, 2014 by Brad

Most of us are aware Amazon is a powerful force, noticeably propelling our local economy. What many may not be aware of is the civic development required to keep pace with the housing needs of the company’s rapidly growing workforce. This article, viewable via the following link, explains how the company’s unprecedented expansion is impacting [...]

Year In Review

Posted: December 10th, 2014 by Brad

Last January we made some predictions for this year, which we posted to our blog available via the following link: http://justrealseattle.com/2014/01/new-year-predictions/. The following five bolded statements were our 2014 market predictions with descriptions of what the market actually did this year. 1. Inventory Should Gradually Stabilize and Return to Traditional Seasonal Levels Perhaps this was [...]

Balanced Market, Selective Buyers

Posted: November 19th, 2014 by Brad

Home buyers are back, and they’re savvy and selective, according to officials who commented on the latest statistics from Northwest Multiple Listing Service. For sellers, that means pricing a home correctly at the start is vital, said industry veteran Kathy Estey, a member of the MLS board of directors. The new report summarizing October activity [...]

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