DATA

The “R” Word

Oct 28, 2019 | 0 Comments

Will a recession affect Seattle’s housing market? “How’s the market?”  It’s the number one question we get in any given conversation when people discover we’re in Real Estate.  Here is an old question we haven’t been asked in nearly decade, “How do you think the recession will affect Seattle home prices?”  The answer is a bit more detailed, so of course we have to blog about it.  While 42% of economists surveyed by the Wall Street Journal estimate that the next recession will begin in 2020, and another 28% believe it will begin in 2021, what’s top of mind for us right now is how this will affect the Seattle real estate market.    It’s important to know that of the last five recessions that occurred since 1980, only two out of five saw home price decrease.  Of course, in […]

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Q3 2019 Gardner report

The Q3 2019 Western Washington Economic Update

Oct 23, 2019 | 0 Comments

  The following analysis of the Western Washington real estate market is provided by Windermere Real Estate Chief Economist, Matthew Gardner. We hope that this information may assist you with making better-informed real estate decisions. For further information about the housing market in your area, please don’t hesitate to contact us. ECONOMIC OVERVIEW Washington State employment has softened slightly to an annual growth rate of 2%, which is still a respectable number compared to other West Coast states and the country as a whole. In all, I expect that Washington will continue to add jobs at a reasonable rate though it is clear that businesses are starting to feel the effects of the trade war with China and this is impacting hiring practices. The state unemployment rate was 4.6%, marginally higher than the 4.4% level of a year ago. My […]

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OCTOBER 2019 MARKET STATS

Oct 21, 2019 | 0 Comments
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FEBRUARY 2019 MARKET STATS

Feb 25, 2019 | 0 Comments
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Q4 2018 MARKET UPDATE

Feb 4, 2019 | 0 Comments

By: Mathew Gardner, Windermere Economist   The following analysis of the Western Washington real estate market is provided by Windermere Real Estate Chief Economist Matthew Gardner. We hope that this information may assist you with making better-informed real estate decisions. For further information about the housing market in your area, please don’t hesitate to contact us.  ECONOMIC OVERVIEW The Washington State economy continues to add jobs at an above-average rate, though the pace of growth is starting to slow as the business cycle matures. Over the past 12 months, the state added 96,600 new jobs, representing an annual growth rate of 2.9% — well above the national rate of 1.7%. Private sector employment gains continue to be quite strong, increasing at an annual rate of 3.6%. Public sector employment was down 0.3%. The strongest growth sectors were Real Estate Brokerage […]

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2019 FORECAST

Dec 29, 2018 | 0 Comments

Author: Mathew Gardner, Windermere Economist What a year it has been for both the U.S. economy and the national housing market. After several years of above-average economic and home price growth, 2018 marked the start of a slowdown in the residential real estate market. As the year comes to a close, it’s time for me to dust off my crystal ball to see what we can expect in 2019. The U.S. Economy Despite the turbulence that the ongoing trade wars with China are causing, I still expect the U.S. economy to have one more year of relatively solid growth before we likely enter a recession in 2020. Yes, it’s the dreaded “R” word, but before you panic, there are some things to bear in mind. Firstly, any cyclical downturn will not be driven by housing.  Although it is almost impossible to […]

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DATA

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