Why is there a Shortage of Homes for Sale in the Greater Seattle and Bellevue Areas?

Seattle Building Boom,, Seattle from Lake Union Sept 2015

Seattle Building Boom, Seattle from Lake Union

Why Do We Have a Shortage of Homes for Sale in the Greater Seattle and Bellevue Areas?

There are 236 people A DAY moving to our area and they all need somewhere to live!  

The Puget Sound Regional Council published, on July 6th, 2016, a report on the current population trend which found that there is an average of 236 people moving to the 4 county area, King, Snohomish, Pierce and Kitsap with by far the most in King county.  According to the report, we have already grown to over 4 million people in the region, sometime in June.  

All this population growth has impacted housing  (and traffic) with low rental vacancies and low inventory of homes for sale causing upward pressure on home prices, good thing that mortgage rates are very low and keeps home prices reasonably affordable.

Of course this isn’t the only thing that is causing a housing shortage here in Seattle, some sellers are hesitant to put their homes on the market to sell fearing that they won’t be able to find another home to buy.  Sellers also keep hearing media reports of buyers losing out to multiple offers and fear that they might lose out too,  but there are strategies to help sellers not be in that position, I can help with that.   

While buying a home can be challenging right now, it is not impossible with the right game plan – I can help you with that, just give me a call or send me an email.

~Deborah

Thinking about buying a home?
Would you like someone to represent YOU, someone who is knowledgeable with the expertise to assist you with your largest financial decision?
I can help, I take great care of my clients, I will take great care of you!
Contact me and we can talk about how I can help you.
Deborah.Burns.Seattle@gmail.com or call me at 206-618-0565.

Find me on Facebook at The Art of Real Estate + ART
Search for Homes for Sale in the greater Seattle and Eastside areas.

This entry was posted in Real Estate, Seattle Real Estate and tagged . Bookmark the permalink.