Currently, opinions on the Seattle housing market are quite divided. Mention the market to someone who recently sold their property or who is planning to list, and they likely will gush about what a great time it is to get involved in real estate. Mention it to someone who is simply looking for an affordable and comfortable place to call home, and you may be met with a groan.
To call the market is hot is an understatement. There's a significant lack of inventory coupled with a plethora of motivated and interested buyers, and it's made for an incredibly competitive market in the city and the surrounding suburbs. In fact, a recent report dubbed Seattle as one of the most competitive markets in the entire country.
According to Curbed Seattle, ...
When mentioning the housing market in Seattle, one is likely to be bombarded with comments about how crazy it is out there for anyone looking to buy or sell a home in the city. It's incredibly competitive, as inventory is low and prices are rising steeply — in some cases, even creating an affordability crisis for those who are interested in moving. Beyond that, the economy is strong in Seattle and high-paying job opportunities are bringing new residents to the Seattle metropolitan area, adding strength to the suburban markets as well.
However, it might come as a surprise that the biggest movers and shakers in the Seattle real estate market are not the new residents who want to make the Emerald City their home. According to the ...
Rising home prices is typically good news for local real estate markets, as it is a sign of a strong market and tends to motivate both sellers as well as buyers. However, in Seattle, rising home prices has actually led to a housing affordability crisis. Many people who want to live in the city limits have found that it's too expensive to own real estate in Seattle, and instead opt to rent apartments, townhomes or single-family homes in the different neighborhoods.
Now, according to The News Tribune, the housing affordability crisis is expanding beyond the borders of Seattle and creeping into the neighboring suburbs as well. Those who already own real estate in the Puget Sound region may benefit from selling their home during this time, but they...
