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.
This is a great synopsis of what's happening in the general Seattle market. The real estate news is near the bottom.
Here's a very nice explanation of how an irrigation system works from Rainbird. Who needs an irrigation system in the rainy Northwest, you might say? Pretty much anyone who wants a green lawn and non-stressed plants at the end of September – unless you're really into dragging hoses and sprinklers around your yard. Did you know the average rainfall for Seattle is only about 3" for July through September? Hardly makes up for the other nine months, but we'll take what we can get.