›

Will the median prices drop in summer 2007?

EastSiderEastSider
edited March 2007 in Seattle Real Estate
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)?

Comments

  • T, V & Mr. B.T, V & Mr. B.
    Excuse my ignorance, or am i missing something? how do I take part in the poll?
  • EastSiderEastSider
    T, V & Mr. B. wrote:
    Excuse my ignorance, or am i missing something? how do I take part in the poll?

    Do the 4 choices show up on your computer (above this thread)? Just select one of them & submit your vote.
  • MatthewMatthew
    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.
  • T, V & Mr. B.T, V & Mr. B.
    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.
  • MatthewMatthew
    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.
  • EastSiderEastSider
    Seems like the inventory is going down? As per the numbers on http://www.housingtracker.net/askingpri ... a-Bellevue -- the inventory has gone down by 8.5% in the past 6 months. Is this mostly seasonal? Does anyone have similar data for a 12-month period?
  • T, V & Mr. B.T, V & Mr. B.
    EastSider wrote:
    Seems like the inventory is going down? As per the numbers on - the inventory has gone down by 8.5% in the past 6 months. Is this mostly seasonal? Does anyone have similar data for a 12-month period?

    That is purley seasonal. Look at the NWMLS sheet and see year over year data. Inventory is substantially higher.
  • EastSiderEastSider
    According to numbers released today on http://www.housingtracker.net/askingpri ... -Bellevue/ -- there's been a 0% appreciation in the past 9 months (across the Greater Seattle region).

    Will the trend continue for the next 3 more months?
  • MatthewMatthew
    No, it will not continue, it will turn negative.
Sign In or Register to comment.