Some folks are wondering why our real estate market in the Seattle area continues to be so hot… well, interest rates and unemployment are two big factors affecting the industry so let’s take a look at one of those right now. As you can see in the graph above, we’ve gone from some all time highs around 9.5% to being now about half of that in the mid-4’s. Strong employment, along with gains in income are helping fuel both the strong rental and home sale markets.
These along with continued low interest rates make for a heated market place overall. Some job centers will do better than others and those mostly suburban locales won’t see the same appreciation gains, especially if bulk new construction is coming in, but we’re still a few years behind on the needed new inventory. Bottom line, it’s still a seller’s market and we’re short of inventory.
Team Reba will be teaching its No Fluff Savvy Home Seller Class coming up on January 31st, 2015 in Seattle. If you’re a home owner considering selling in the coming year, this is a good time to get caught up on the changes in financing, contracts, CO monitors and more that will affect your home sale. We’ll also discuss best practices to get the most money out of your house.
