WHAT’S IN STORE FOR OUR EXPANDING CITY?
2016 seemed to end just like it began, eventful and demanding of the Seattle Real Estate Market. This New Year seems to be brighter and many have projected a positive and stable real estate period. The biggest challenges of this year are expected to be rising interest rates and low inventory. Thadine Bak of Coldwell Banker Bain predicts that rates will increase but not to extremes, which are to benefit the housing industry.
Seattle’s growth is something to be proud of not dreaded. Seattle is establishing itself as a lifestyle and business capital of the Pacific Northwest. “The hottest markets in the country remain in the Northwest. Seattle, Portland and Denver continue to post strong gains, partly owing to the influx of buyers moving to these tech industry hubs after being priced out of the Silicon Valley area”, as described by Rodrigo Sermeno’s article on Kiplinger’s latest forecast. We are considered the nation’s hottest housing prices with an 11 percent growth over the years, easily surpassing the national average of 5.5 percent. And while there are many questions looming about the current Seattle Real Estate market, “our lending credit requirements, down payments and growing economy will all act as protectors” explains Thadine.
One of the prevailing themes coming through in our research is that well-educated agents will be worth their weight in gold to their clients as they help them read fast-changing markets”, which is explained in the Inman Special Report written by Gill South.
We are excited for the city of Seattle and all it has to offer in this upcoming year for Real Estate, business and our local communities. To learn more about VDB Estates and our services, visit Why VDB.
Visit this 2017 Special Report and the Housing Market Forecast for more information.
