Fall foliage, haunted parks, enchanted islands, unforgettable museums—all less than two hours from Seattle.
Forget fevered bidding wars and snap home-buying decisions. Slower and steadier will characterize next year’s housing market.
That follows a 2018 that started off hot but softened into the fall as buyers – put off by high prices and few choices – sat out rather than paid up.
Affordability issues will remain a top concern going into 2019, exacerbated by rising mortgage rates. But some of 2018’s more intractable issues will begin to loosen up. The volume of for-sale homes is expected to rise and diversify, while the number of buyers is forecast to shrink.
The number of homes for sale across King County surged up 66 percent in the past year — and 86 percent just in the city of Seattle — the biggest rise in more than a decade.
Home prices are continuing to fall across an unseasonably cool Seattle real estate market, with homes that would have been snapped up in an instant just several months ago now sitting unsold.
New monthly data out Friday shows median home prices across King County fell $30,000 in August from the month prior, the third straight month of declines. Countywide the median cost of a single-family house, now $669,000, is down by $57,000 since May, according to the Northwest Multiple Listing Service.
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