#731 - The Hot Seattle-Area Housing Market Has Cooled But Home Prices Remain Up By Double-Digits
News For Reasonable People
English - September 14, 2021 10:00 - 30 minutes - 21.3 MB - ★★★★★ - 7 ratingsInvesting Business Entrepreneurship san francisco trending news protests defund the police antifa blm seattle conservative republican journalism Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
The white-hot Seattle-area housing market has started to cool, by some measures. Last month, fewer new listings hit the market here and home prices dipped compared to a month earlier, according to data released Tuesday by the Northwest Multiple Listing Service.
Brokers report occasional price drops, and one local economist says we could be hitting a “price ceiling.” But a year of runaway growth has already done its damage.
Home prices across the Puget Sound region remain up by double-digit percentages compared to last year and 2019.
The dual realities — a cooling market with high prices — reflect the ongoing effects of the pandemic-fueled housing boom. Low interest rates, a flood of interested buyers and few homes listed for sale drove up prices here and around the country.
Join your host Sean Reynolds, owner of Summit Properties NW, and Reynolds & Kline Appraisal as he takes a look at this developing topic.
https://www.seattletimes.com/business/real-estate/when-paying-60000-above-asking-price-feels-like-a-deal-heres-what-a-cooling-housing-market-looks-like-in-the-seattle-area/