
Seattle 2022 Update: Housing Bubble? Crash?
I talk to Seattle, WA home buyers and sellers every day and one of the biggest questions on everybody’s mind is, “What is going on with the real estate market? When will prices cool off? Should I wait for six months to buy, in hopes that the market gets better? In fact, a recent survey revealed that many would-be buyers believe there’s a housing bubble beginning to form. If you were burned, or saw your parents burned during the real estate build up and crash caused by the mortgage crisis in 2008, then you may be especially sensitive to the idea that history is repeating itself.
And, if you look at what’s happening in the market now, you might find yourself scratching your head and wondering how long this can go on. Some of our markets in the Seattle area have been experiencing 15% -20% appreciation over the last 12 months, and that is certainly out of the ordinary. What is going on, in reality?
The main thing I want to communicate is that THIS market is very different than it was during the housing crash 15 years ago. I was a real estaet investor with lots of houses and properties during that time, and I survived. We should get through this market cycle relatively unscathed… here’s what you need to know.