Last week the Seattle Times did a good deep dive on the market, why are Seattle-area home prices falling now? Sorting out the myths and the facts. I think it is a good read, but misses something really important – the stock market. Many buyers in Seattle are selling their company’s stock for their down payments and with stocks so much off their highs buyers have *a lot* less spending power than they did a year ago.
Surprisingly, the Emerald, a 265-unit condo a block from the market, picked last week to release more info on what they have coming in early 2019; looks good! Here’s all the high-rises coming to the downtown-ish area.
Not surprisingly, there were almost no new listings this past week and we expect this week to be very quiet. New listings should start to pick up after the new year though.