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June 2018

Found 4 blog entries for June 2018.


A new survey ranks the Seattle-Tacoma-Bellevue area as having the fourth-strongest economy in the nation.
The new report, by Business Insider, ranked the strength of the nation's 40 largest metropolitan areas based on five criteria: unemployment rate, average weekly wage, job growth rate, gross domestic product per capita, and GDP growth rate.

The survey then placed those criteria on a common scale and combined them to get a picture of the overall state of each metro area's economy.

The study found that some metropolitan areas, such as Seattle, have particularly strong economies. Others, such as Cleveland, Virginia Beach and Providence, are much weaker.

According to the report, Seattle's economy has been supercharged by hosting the

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A surprise surge in home inventory means some good news for house hunters in King County.

The May numbers, supplied by the Northwest Multiple Listing Service this month, show an increase that’s late in the home selling season.

“Big jump. 36 percent jump year over year in active inventory and so it’s almost 1,000 new units came online in King County,” said Matthew Gardner, Windermere Real Estate Chief Economist. “One jump in a month is a good thing. I want to see it continue.”

It’s better news for buyers who’ve seen 44 months of negative inventory numbers. May snapped that streak.

“For the buyers, more inventory is good,” said Rebecca Carlson, a Coldwell Banker Bain broker.
Carlson noted as inventory was going up last month, she said many

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Steady demand. Limited supply. That’s what we are seeing in real estate markets across the country right now. Inventory is particularly tight within the lower price ranges. “The starter house is nearly missing in some markets,” according to Jessica Lautz, managing director of survey research and communication for the National Association of Realtors.

Of course, conditions can vary from one city to the next. But the overall trend in housing markets across the country is that supply is still falling short of demand. Given these conditions, it’s important for home buyers to make a strong, smart offer when the right house comes along. Here are five tips for doing exactly that.

1. Understand the supply and demand situation in your area.


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If you're hoping to buy a home in Seattle, be prepared for rejection. A lot of it.

"For buyers, we are typically making six to 10 offers before we get a house," said Rob McGarty, who has been a real estate agent in Seattle for 14 years. "The amount of emotional energy going into preparing these offers is huge."

Home prices in Seattle are on fire: rising nearly 13% in February from the same time a year ago, according to the latest S&P CoreLogic Case-Shiller Indices.
Prices have risen so fast that it's led to an affordability crisis, with no relief in site.
"Seattle seems to be defying all the laws of housing market trends," said Daren Blomquist, senior vice president at real estate data firm ATTOM.

The problem is simple: there are more people

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