Seattle housing is in mode ..

Google
puzzeled10

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puzzeled10
3d 25 Comments

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TOP 25 Comments
  • Google
    puzzeled10

    Go to company page Google

    puzzeled10
    OP
    Looks are 🐂 bulls are not running around with confidence anymore..
    3d 5
    • Amazon
      IjeM36

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      IjeM36
      The overall TC actually dipped because of the stocks. Next year TC is based on a number which is already more than the current price and they have assumed 15% growth, so if that doesn’t happen then even next year the real TC would be low.
      2d
    • Scarcity of home argument, its not valid. This week was the first week on east side when homes under 1.5M were unsold and didn’t go to pending. I can point out homes on market now for more than 24 days. Before that used to be 3-5 days max on market!

      Inventory of homes has already started climbing (because people are not buying due to high interest) that will automatically cause panic for flippers and second buyers to sell. Investment bankers have started exiting the housing sighting the same incoming dip to safer investments (hint hint bonds and interest based vehicles) because they are aggressively returning back this year.

      So where does that leave us? People unloaded their stock gains for down payments and bought homes worth 1.8M heck even 1.9M in remote areas like Bothell. With stocks crashing but lower interest rates starting end of 2021 they still pushed hard due to ~2.5ish % mortgages. Now both of them are gone! Amazon, Google are down -12% since last 6 months and there is atleast 20% correction expected in SnP from this point. None of the TC or 15% assumptions matter till feds are done with rate hikes. By end of year there will be enough inventory that if stocks start climbing back up next year it will easy peasy peel of the 50% price pumps that people are listing their homes on today.
      2d
  • We are seeing price drops everywhere now. It’s something never seen in last 2 years.

    There are 1 or none offers on most of the houses.

    Affordability is going down. Good chance of pricing going down
    3d 1
  • AT&T
    helloatt

    Go to company page AT&T

    helloatt
    “There are tons of people with money waiting for crash”.

    And all these so called toms of people will flee the market when recession kicks in with job loss. Housing market ran on sentiment of low rate and FOMO in last 12 months. When economy soften with layoff then all these eager to buy people along with investors, will disappear.
    3d 6
    • In 2018 when rates went up a tad bit housing everywhere softened and dropped 5-10%. Rates go up more and investing elsewhere makes more sense

      Lots of speculation investors will flood the market with sales once there’s a 10% drop. My bet is that at 6% there will be a 20% drop in prices
      3d
    • Amazon
      IjeM36

      Go to company page Amazon

      IjeM36
      I believe it all depends on how much people can afford. Supply will improve with time but you can’t expect everyone to pay more than a million.
      2d
  • If primary residence, Buy Now as long as u r not over stretching… 1M houses are still sold like chocolates on the East side (Lynnwood, Bothell, Everett and Shoreline)…

    If u have the patience, no harm in waiting. But expecting a crash in <1.5M houses is a little hard to see.. There’s tons of people with money waiting for crash..

    Seattle is tech dominated. Wages are raising fast. 800k was affordable with salaries from 2018. Now, 1.2M should be fine.
    3d 8
  • New / Mktg
    pinaypower

    New Mktg

    pinaypower
    This house just went live if you are interested https://www.redfin.com/WA/Seattle/4316-SW-Portland-St-98136/home/157153
    Yesterday 0