Wednesday, January 7, 2015

Seattle Real Estate Forecast 2015


*Synced from Seattle and Real Estate Blog

Millenials
In Seattle’s housing market, where the supply of homes over the past year never exceeded two months’ worth of inventory, a whole new generation of home buyers could be poised to make an even bigger dent in the pool of available homes in 2015. Millenials – people born after 1980 – have been putting off home purchases due to factors such as high student debt, stagnant wages resulting from the recession, and a desire to not be tied to a permanent home, but they could be a bigger force in the housing market in 2015, according to a new report in The Seattle Times. With the median rent in King County now standing at $1,750 per month, home ownership is beginning to look more appealing to many in their late 20’s and early 30’s who have thus far been exclusively renters.

Rental Market
Rents in the Seattle area (King and Snohomish counties) grew at a staggering rate of more than 8 percent in 2014 and are projected to continue to rise in 2015. An estimated 12,273 new apartment units slated to go on the market next year are expected to increase competition for renters and help ease price hikes somewhat, but the glut of new units likely won’t provide much relief for those with budgets at the lower end of the spectrum. For example, in Ballard, where many of these new buildings are going up, apartments built after 2010 are renting for an average of $1,731 per month – not exactly affordable for many single renters. Overall, Seattle remains the 8th most expensive place to rent in the country, with a median rent of $1,580 for a one-bedroom apartment.

Home Prices
Seattle median home prices continue to rise on a yearly basis, having grown 11 percent in 2014, according to the Puget Sound Business Journal, but most are predicting slower, yet steady growth for 2015. The median price for a single-family home in Seattle in November this year was $357,000. In King County as a whole, the median price was $440,000 in December, just slightly lower than the 2007 peak of $455,000. Stan Humphries, chief economist at Zillow, told The Seattle Times that he expects to see continued moderation of price gains over the next year, compared with the double-digit growth the market saw in 2013 and early 2014. OB Jacobi, president of Windermere Real Estate, said in a statement that he expects price growth of 4-6 percent in 2015.

For more information on Seattle real estate, contact your local real estate broker today!

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The Seattle real estate market is expected to remain strong in 2023. Home prices are forecast to rise by 5% to 7%, and inventory is expected to remain low. The strong demand for housing is being driven by a number of factors, including the city's strong economy, its growing tech industry, and its mild climate.
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The city saw a surge in housing demand, driven by its booming tech industry and a strong job market, which attracted both domestic and international buyers. As a result, property values in Seattle experienced steady appreciation, and the market favored sellers. However, this increase in demand also led to rising home prices, making affordability a concern for many residents. Experts predicted that Seattle's real estate market would continue to thrive throughout the year, but the rapid price growth would be a double-edged sword, offering opportunities for sellers but posing challenges for those trying to enter the market as buyers..... Leesburg Divorce Lawyer

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In 2015, the Seattle real estate market exhibited strong growth and a positive forecast. With a burgeoning economy fueled by the technology sector, Seattle experienced a surge in demand for housing, leading to increased property values and a competitive market.
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simon said...


The "Seattle Real Estate Forecast 2015" provides a comprehensive and insightful analysis of the real estate landscape in the region. This forecast appears to offer valuable information for potential buyers, sellers, and investors looking to navigate the market that year. With a focus on trends, pricing, and key indicators, it serves as a useful resource for making informed decisions in the real estate sector. The inclusion of forecasts suggests a forward-looking approach, aiding individuals in planning and strategizing within the dynamic Seattle market. Overall, it appears to be a valuable tool for those seeking a nuanced understanding of real estate dynamics in 2015. divorcio nueva jersey





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The "Seattle Real Estate Forecast 2015" provides a comprehensive analysis of the real estate market, offering valuable insights for investors and homeowners. It blends statistical data with qualitative assessments, providing a comprehensive overview. However, more visual elements like graphs or charts could enhance comprehension. The forecast's accuracy in hindsight could add retrospective value. Overall, a well-researched and informative resource for the Seattle real estate market in 2015.
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