My list for what’s driving the Seattle housing market:
* Mortgage Rates will climb when Fed raises prime rate early 2019.
* Amazon announces HQ2 location(s), will Amazonians move? Not likely, Seattle is still one of the most desirable cities in US for tech workers.
* Facebook just announced, increasing office space in Bellevue + S. Lake Union.
* We have 34 Fortune 500 companies in Seattle, was only 7 in 2010!
* Seattle will still be hiring moving into 2019. We’re more than just Amazon.
* Home Prices will continue to increase at new slower rate but Still Increasing.
Because of all of these reasons, I think the Seattle housing market will continue to grow and appreciate.
So, waiting for prices to drop is a long shot and the wild card of increasing Interest Rates will lower buyer’s purchasing power next Spring.
We know where we are now, the future is a gamble with so many variables.
This is why buyer’s should purchase this winter in Seattle.