Remember that CNN money article back in October of last year that named Seattle as one of the best housing recovery bets? The article predicted that our real estate market should start to turn around June of 2010. It also predicted that between June 2010 and June of 2011 the city should see a gain of 6.2%. Hmmm…. sounds good to me!
We are well on our way to June and it will be interesting to see what the real estate market does into 2011. 6.2% sounds pretty ambitious but my thoughts are that we are at the bottom so we should start to see small gains in housing prices around the city. It’s true that our inventory of good homes is low and there are still many buyers out there shopping. Even million dollar homes, way past the conforming loan rate, are selling within a week of being put on the market, some with multiple offers.
Predicting our housing statistics is like predicting the weather in Seattle… I don’t dare to even think about putting out my tomatoes! But I know the warmth of spring is coming… let’s hope it brings new leaves for the housing market as well.
Susanne
