Here’s the usual roundup of the NWMLS press release echo chamber for this month. As expected, most of the focus is on price, price, price. As long as the median price keeps going up, expect more of the same. Bibeka Shrestha, Seattle Times: Median price for house in Seattle tops $500,000 The median price for…
Author: 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.
Supply Soars, Demand Drops Like a Rock
August stats have finally been run by the NWMLS. Thanks to my inside source, you can find the info here first. When they publish the usual monthly press release with links to the recap pdfs, I’ll post it here. Update: Here’s a link to the press release: Key Indicators for August Home Sales Around Washington…
Taller Condos for Middle Class Buyers?
Just in time for the whole mess to unwind all on its own, the City of Seattle is poised to do something about the lack of affordable (to buy) in-city homes for the middle class. Developers might soon have to provide more apartments and condominiums that moderate-wage workers can afford if they want to put…
Overheard in the Breakroom
“I can drive to work all week in my Camry, without having to tank up.” “I ride my bike to work, and get here in 10 minutes.” “Yeah, well I bought a condo in Issaquah, so I have to drive.” “I rent a house right here in Redmond.” “What do you pay per month?” “$1,700”…
Best, Worst, & Most Likely Scenarios?
Here’s something that should be fun to discuss. I’m interested in hearing everybody’s ideas about the types of scenarios that may play out in the Seattle-area housing market. Best case, worst case, and most likely case. Here are my wild-donkey guesses: Best CasePrices flat to +3% for ten or more years. Local economy keeps chugging,…