Average single family home fell $29,000 in just one month (Jan). Jan was supposed to be when things picked. Multiple Realtors told us that it’s gonna pick up in Jan and it’s the best time to buy. Are they full of sh*t? 16% drop in home prices over last few months. $116,000 drop in average home price values since spring. This is madness. I would understand if this was during a recession. https://www.seattletimes.com/business/real-estate/seattle-area-home-prices-drop-to-lowest-point-in-two-years-down-116000-since-last-spring/
“I would understand if this was during a recession.” Where were you in the last year? Did you not see how stock market is doing?
You really have no idea what a recession is
Uh I went through the last one kiddo
Did you buy?
OP will never buy. I know a a guy who was looking to for 3 years. Don’t follow useless articles, go to Greystone community in Redmond and learn yourself. There is lot of demand for good homes still on east side...
Inventory is up. Lots of pent up demand from over priced houses. Not necessarily a sign of a recession, and really possibly a sign of a more healthy housing market.
Realtors will say anything to close as many sales as they can
This !!!!!!!!
In rising market OR falling market. Realtors are close to scum. With the digital revolution (Redfin, etc.) they are surviving only because of the monopolistic mafioso MLS system.
Best time to buy! 116k discount from last year. Buy!
🤦♂️🤦♂️
Buy buy buy buy! Once you buy buy borrow from friends and family and buy more! Buy buy buy!
I don't think its bottomed out yet...lots of headwinds 1) less foreign investors 2) Amazon stock is not growing gangbusters anymore 3) more inventory 4) higher interest rates...
Especially with Amazon plans to open in New York, I can see why Seattle isn't a spot for property investment as much as it was last year.
Also never ask your real estate agent if you want to buy, the answer is always 'yes'. Same hold true if you ask them if you should sell 😋
"Hahahahaha" - Sincerely, a renter
Yeah I am waiting longer to see if the market stabilizes. In truth, good houses at great locations still get swooped up pretty fast, but on average houses that aren't perfect stays on the market for a while now, and more inventory stays unbought. The sellers are still pricing them high though so it will be a while if anyore drastic correction occurs imho.
Sums up current conditions pretty well!!
So true! All worthy houses are gone in 1 weekend, often even before open house 🤦🏻♀️ those which sit on the market are either overpriced, less value, or have issues. Or all of those (+delusional sellers)
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Overseas investors were the ones driving everything up like crazy and those dried up so it's just getting back to normal They were the ones going 100k over ask with all-cash offers
Statement without proof or evidence is BS.
Lol OK bud... I'm not digging up articles about it for blind because I'm not trying to argue with anyone Also anyone who was in the housing market at all last year saw that shit happening left and right... And now it's nowhere to be found (witnessed it in my own house hunt, house hunts of friends and coworkers, and people I knew who were selling)