We're well into 2014 and the real estate market is off to a great start. Now that the holidays and Superbowl celebrations are behind us, more people are starting to think about buying and selling homes again. Matthew Gardner, of Gardner Economics, recently gave a presentation with his predictions for the coming year for our area. In summary:
"Regional Employment Situation: Seattle remains one of the best west coast locations relative to potential growth; overall, we are looking better than a vast majority of states in the union with the metro area & I anticipate over 35,000 new jobs (2.5%) in 2014."
In addition, Mr. Garnder predicts that interest rates will climb, inventory is still low but will increase a bit, and prices will increase this year in the mid- to high-single digits. Even with prices going up, he does not forsee a housing bubble forming.
By all reports we've seen, we are at least two years into a great housing market with 2014 continuing the trend.