Doubt Creeping into Some Buyers’ Minds?

More indications that the Seattle area is still red-hot:

Compared with median prices for homes and condos sold a year ago at this time, prices were significantly higher throughout the county last month, according to the Northwest Multiple Listing Service’s latest numbers.

The number of days that those homes and condos were on the market before selling have also declined sharply from a year ago — an indication that demand from buyers remains strong, despite a sharp decline in the number of available properties on the market.

Red-hot, but with a slight sense of doubt perhaps creeping into the minds of some people:

“I think, personally, we’re seeing it’s still a seller’s market,” said Conger, although she added, “I don’t get quite the sense that people are as frantic when they’re buying” as home buyers were a few months ago.

Conger said she has noticed an increase in the number of clients expressing concerns over the possibility of a housing bubble.

So it seems that some people may be letting reality creep into their frantic craze to get in on the housing market in the Seattle area. I think my favorite quote from this article is near the end, from the real estate agent Pat Conger:

While Conger acknowledges “I don’t have a crystal ball,” she said, “I tell people, ‘If you’re ready to buy (a home), you should buy.'”

No kidding? A real estate agent is telling people to ignore the looming doubt and buy, buy, buy! Who could have guessed?

(Clayton Park, King County Journal, 08.06.2005)

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About The Tim

Tim Ellis is the founder of Seattle Bubble. His background in engineering and computer / internet technology, a fondness of data-based analysis of problems, and an addiction to spreadsheets all influence his perspective on the Seattle-area real estate market. Tim also hosts the weekly improv comedy sci-fi podcast Dispatches from the Multiverse.

One comment:

  1. 1
    Ron says:

    “… you should buy…” That’s been one of my jokes for a long time. If you come upon the scene of an accident and a person is near death. How can you tell if he is still alive? If he/she is a real estate agent He will say “Today is the best time to buy.” If he doesn’t say that you know s/he is dead.

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