REAL ESTATE INFO COLUMN: Are we in a bubble?

Welcome to my Real Estate advice column, “Dear Don,” where I answer all your burning Real Estate questions. Send yours to me at donkoonce@windermere.com, and I’ll try to answer them in future columns.

Dear Don:

Are we in a bubble?

Wondering Will

Dear Will:

While no one can predict the future, there aren’t any signs that point to Seattle’s housing market crashing. We have a robust economy with plenty of well-paying jobs, and the industries are very diverse. There are plenty of buyers looking for homes, and Seattle has very limited land. We are sandwiched between bodies of water an we are mostly built out. Based on supply and demand, the housing market isn’t crashing any time soon. Now, if there is a major crisis of some kind or big world event, then anything can happen.

According to Windermere Real Estate Chief Economist Matthew Gardner, “That is not to say that there aren’t several markets around the country that are overpriced, but just because a market is overvalued, does not mean that a bubble is in place. It simply means that forward price growth in these markets will be lower to allow income levels to rise sufficiently.” Read more in his 2019 Economic and Housing Forecast.

Warmly,
Don

Are you ready to take the plunge into the Real Estate market? Don’t do it alone. My mission is to help you achieve your life goals. Contact me today at 206-250-7291 or donkoonce@windermere.com.