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Seattle Bubble Forum Archive • View topic - Will the median prices drop in summer 2007?

Will the median prices drop in summer 2007?

Anything and everything relating to Seattle-area real estate.

Moderators: synthetik, The Tim, Lake Hills Renter

Will median prices drop (in Seattle & Eastside) in Summer 2007??

Yes, it will drop in Summer 2007
8
38%
No
1
5%
No, but it will drop sometime in 2007
5
24%
Maybe
7
33%
 
Total votes : 21

Will the median prices drop in summer 2007?

Postby EastSider » Mon Feb 19, 2007 10:27 am

The median price in the Seattle-Tacoma-Bellevue region has dropped by 1.3% in the past 6 months. Check out
http://www.housingtracker.net/askingpri ... a-Bellevue

Do you think that this trend will continue & we'll see a drop on a year-over-year basis (for the first time in many, many years)?
EastSider
Bubble Bloviator
 
Posts: 474
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Postby T, V & Mr. B. » Mon Feb 19, 2007 11:58 am

T, V & Mr. B.
Bubble Watcher
 
Posts: 43
Joined: Mon Feb 19, 2007 6:23 am
Location: Bothell

Postby EastSider » Mon Feb 19, 2007 12:02 pm

EastSider
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Posts: 474
Joined: Sun Feb 18, 2007 11:17 pm

Postby Matthew » Tue Feb 20, 2007 12:32 pm

If we are talking Y/Y I would speculate the drop in prices will occur at the end of the summer at the earliest. My guess is that we won't see a Y/Y drop until late 2007 or early 2008.

I think we still need to see inventory come up a ways from where it is at now.
Matthew
Bubble Blatherer
 
Posts: 144
Joined: Tue Feb 20, 2007 8:04 am
Location: Seattle

Postby T, V & Mr. B. » Tue Feb 20, 2007 12:39 pm

I think that now that there is more and more MSM news bits about housing drops, and even in Seattle, you will see people start putting their houses on the market more and more to try and beat the rush. Home Depots may start getting busy by people readying theri house for viewing. I will be shocked if we don't start seeing things sliding before the summer. I think this thing is gonna snow-ball pretty soon. Give it two months.
T, V & Mr. B.
Bubble Watcher
 
Posts: 43
Joined: Mon Feb 19, 2007 6:23 am
Location: Bothell

Postby Matthew » Tue Feb 20, 2007 2:33 pm

TV&B,

You could be right... The only reason that I say the fall and/or late 2007 is it appears that the market peak was around October 2006. However, you could see inventory piling up in a hurry this spring, making for a rocky summer.
Matthew
Bubble Blatherer
 
Posts: 144
Joined: Tue Feb 20, 2007 8:04 am
Location: Seattle

Inventory going down?

Postby EastSider » Wed Feb 21, 2007 8:29 am

EastSider
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Posts: 474
Joined: Sun Feb 18, 2007 11:17 pm

Re: Inventory going down?

Postby T, V & Mr. B. » Wed Feb 21, 2007 8:46 am

T, V & Mr. B.
Bubble Watcher
 
Posts: 43
Joined: Mon Feb 19, 2007 6:23 am
Location: Bothell

0% appreciation in the past 9 months

Postby EastSider » Mon Mar 12, 2007 10:40 pm

EastSider
Bubble Bloviator
 
Posts: 474
Joined: Sun Feb 18, 2007 11:17 pm

Postby Matthew » Tue Mar 13, 2007 9:34 am

Matthew
Bubble Blatherer
 
Posts: 144
Joined: Tue Feb 20, 2007 8:04 am
Location: Seattle


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