You might have seen this article recently: Seattle home prices zipping upward, but slowdown likely.
Although this article talks about our local Seattle market, I believe it is still very skewed by national statistics and national economic factors. From my point of view, the market in Seattle is much more related to the economic fundamentals of supply and demand. Demand is very high in our area, primarily due to a strong jobs market, many new people coming to the area, pent up demand, and traffic avoidance issues.
Amazon alone keeps bringing well paid employees to the area who want to live close to their work place. Basically, there are many people looking for housing in the Seattle area. As long as Amazon, Costco, Starbucks, Microsoft and others continue to hire and interest rates remain at a reasonable level, demand will continue.
I often say "most people need a place to live. The majority do not want to be homeless." Let me help you decipher the Seattle Real Estate market. Everyone's situation is different. Relying on news reports to help make your housing decisions may be a mistake. Please give me a call at 206-230-0833.
By Ken Urman, Realtor