Real estate trends vary across Seattle
Due to the strong employment rates, high rental prices and lowering home prices, it is a perfect time to look for real estate in Seattle, WA. According to USA Today, there are many reasons that make it an ideal time to buy as long as it’s possible to get a loan, but some experts are still unsure.
The inventory of homes in Seattle has dropped significantly faster than the national standards, but home prices are down 30 percent from the peak. With the demand of homes increasing, getting in before the inventory shrinks further can help homebuyers find great deals.
However, experts are unsure of where the market is headed and between the first and second quarter, sales dropped 2.6 percent after seasonal variation adjustment. The actual number of sales rose, but not in accordance with typical summer real estate trends.
"It means that the market didn't increase as much as it usually does between the first and the second quarters of the year," Runstad Center for Real Estate Studies at the University of Washington Associate Director, Glenn Crellin, told the Seattle Post-Intelligencer. "And that's consistent with the fact that overall economic statistics haven't been as strong in the second quarter as they were in the first."