Seattle Condo Pipeline Drying Up?
Puget Sound Business Journal reports, Seattle’s condo pipeline expected to dry up:
The pace of development has slowed so sharply that local experts predict a shortage in 2010 that could drive prices up. One consultant forecasts delivery of just 189 new units that year — down from an average of 1,100 anticipated in each of the prior three year
As Affluent Bitter Renter says on Seattle Bubble:
Remember the rule – lots of condo projects being built reflects builders’ confidence in strong condo price appreciation, proving that It’s A Great Time To Buy. No condo projects being built means that there will be a future shortage of condos, also proving that It’s A Great Time To Buy. No matter what the market condition is, It’s Always A Great Time To Buy!
It may be true that larger downtown high rise buildings are facing a harder time but a number of smaller projects in neighborhoods like Capitol Hill, Fremont and Queen Anne are continually popping up.
…James tries to piece together the pipeline, Completed, Under Construction or… Planned Condos.