Seattle housing market outlook

What does 2019 have in store for housing markets in and around Seattle? Every month we publish our take on things (check out the January update here). We also poll our network of CoBuy-certified™ real estate professionals, which includes industry veterans from across the value chain.

We asked twenty of of our partners in broking, lending, and building what they think about the market and where they see things heading. Check out the key takeaways below!

Home prices.

65%

see prices

“holding steady”

over the next 3 months.

(30% expect an increase)

INVENTORY

Supply of homes on the market in Q1 will…

0

percent

“INCREASE SOMEWHAT”

0

percent

“HOLD STEADY”

0

percent

“DECREASE SOMEWHAT”

Over half think demand from buyers will increase in the first quarter.

Most agreed that first-time buyers will drive demand.

Unsurprisingly, just under half of those surveyed expect relocations to figure in.

Biggest threats to market stability

No shortage of perceived risks, then…

Economic Uncertainty

Lack of Inventory

Geopolitics

Housing Policy & Regulation

Challenges facing first-time buyers

1. High prices
2. Skepticism of lending & real estate industries
3. Lack of financial education

(No shortage of
fresh data
on this front.)

Zoning & density

Respondents overwhelmingly said relaxing zoning regulations would prompt a meaningful number of existing homeowners to downsize and/or construct additional dwelling units on their property.

A penny for your thoughts!

Commentary provided in response to the open-ended final question:

“I think it will be another strong spring. I am already getting activity and clients in contract in the first few days of the year.”

“I think the biggest driver in the region will be the job creation driven by Google, Apple, Amazon, Facebook, and other companies hiring in the area.”

“I think that we will see more listings hit the market starting mid January from the people who waited for the holidays to be over. I believe that there will still be moderate competition for properties in the lower price points as first-time home buyers try to enter the market.”

“Appreciation should be moderate but there in 2019. Rates will continue to be volatile.”

The raw results

Get in touch.

CoBuy makes it easy to buy & own a home together, intelligently. We work with buyers to navigate the purchase process efficiently and effectively. Best of all, we don’t charge buyers to use our service.

Considering buying a home with friends, family, or a loved one? We’d love to hear from you. Create an account at CoBuy or drop us a note below for more info.