Will the Seattle real estate market slow down in 2016?
The professionals are saying no, growth is on the calendar! The Seattle real estate market has been on an upward climb for some years now and I’m sure every agent you have come in contact with has probably been preaching about the current market being “the best market we have ever seen.” Well, they haven’t been lying! The market continues to stay on fire and continues to favor sellers. The Seattle metro area ranks fourth nationally as Urban Land Institute’s hottest markets to watch for in 2016. This can be contributed to the continued rise in millennial jobs within in the Seattle metro area. Not only are we seeing an increase in young professionals moving to Seattle, more investment dollars being put into the city, and there is a grow within the city’s vibrant social scene.
The Seattle Times recently posted an article predicting that even with the Fed interest rate rising, Seattle’s real estate market will not be slowing down in 2016. With a market that has been favoring sellers for some time we don’t see any immediate changes with monthly inventory remaining at historic lows and the Seattle area home price increase has reached number 1 in the country. House prices are increasing and available homes on the market are incredibly slim! If you have been debating to sell your home, now is the time to talk to a real estate agent.
“Seattle’s supercharged market for everything from skyscrapers to single-family houses is expected to keep booming next year, even with higher interest rates.”
– Jon Talton Seattle Times
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