Here’s a media report on February’s numbers from the Seattle Times, who says that "prices remain buoyant." The housing market around Puget Sound has slowed from its blistering pace of a year ago, meaning some sellers don’t get multiple offers and some have to lower their prices. But prices remain buoyant, with the median sales…
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.
February Sees Continued Slowdown
Perhaps I’ve somehow overlooked the stories in the news outlets, but February’s numbers are available (pdf file), and from what I can tell, the slowdown in Seattle continues. Combined home sales in King County dropped for the second straight month, and the fourth time in the last six months. Sitting at $344,950, the combined price…
More Fuzzy "Affordable" Math
Yet another government-subsidized "affordable housing" project is going up downtown, with the Mayor and other high-rollers attending the big kick-off ceremony last week. Built to help address the city’s shortage of affordable homes, most of the building’s 19 new condominiums will be affordable to households earning less than 80 percent of the area median income….
HouseValues’ Value Drops
Despite Seattle’s resilience so far, the deflating bubble elsewhere around the country continues to affect businesses based in the Seattle area. The latest victim—HouseValues—took a hit last week. Last year’s booming housing market helped pump up 2005 profits at Kirkland-based HouseValues, but the company’s forecast for the current year led to a 28 percent stock-market…
Government-Funded "Affordability"
What’s the solution to ridiculously high home prices in Seattle? Why, government programs, of course! Some programs available here max out annually but others remain untapped, leaving thousands of dollars in assistance available to people earning as much as 80 percent of the $72,000 median household income in the Seattle metropolitan area. That currently translates…