It’s been quite a while since we’ve had a look at our affordability index charts for the counties around Puget Sound, so let’s have a look at those charts…
Search Results for: calculator
Low affordability may be why sales are stalling out
By popular request, let’s take a look at our affordability index charts for the counties around Puget Sound.
As of August, the affordability index has bounced up slightly from its May low (which was the lowest point since nearly a decade ago in July 2008), but still sits at the very low level of 85.0.
For context, eighty-six percent of the 306 months on record back through 1993 have had a higher affordability index than what we had in August 2018…
Seattle-area affordability set to plunge to 9-year lows in 2018
If you’re wondering about the lack of posts on these pages recently, the explanation is pretty simple: There just isn’t much to say. The Seattle-area housing market has been in a protracted boom period with ridiculously low inventory of homes for sale and rapidly-climbing prices for years now. In a lot of ways it looks like the housing bubble that was in full swing when I started this blog in 2005, but what’s going on behind the scenes is very different this time around. Is it possible that Seattle really is special this time around and the “bubble” won’t burst this time? … Maybe?
Anyway, I’ve been meaning to update more of the charts of the “fundamentals,” so let’s start with an updated look at our affordability index charts for the counties around Puget Sound.
High Seattle Home Prices Now The Subject Of Tasteless Bus Ads
This bus ad was spotted by Redditor /u/moroccahamed on /r/SeattleWA:
[caption id="attachment_104531" align="alignnone" width="720"]
You know who can afford a house in Seattle? SOFTWARE DEVELOPERS.[/caption]
I feel like an ad like this is more likely to add to the already high level of animosity toward software developers than it is to get people to sign up for a coding academy…
Affordability Index Falls To Early 2005 Levels
With all of the first quarter behind us, and the question of whether or not we’re in another real estate bubble here in Seattle on everyone’s minds, let’s take an updated look at our affordability index charts for the counties around Puget Sound.
As of March, affordability has now fallen to its lowest level since November 2008, and as has been the case for quite a while, it would be considerably worse if not for the current absurdly low interest rates.
Median home prices have already begun their annual spring bump, while interest rates have ticked up slightly. The affordability index for King County currently sits at 90.7.