Housing Market Survey - Greater Seattle - Jan '19
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!
over the next 3 months.
(30% expect an increase)
Supply of homes on the market in Q1 will…
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…
Lack of Inventory
Housing Policy & Regulation
Challenges facing first-time buyers
- High prices
- Skepticism of lending & real estate industries
- Lack of financial education
(No shortage of
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
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