Now that we are nearing the end of 2018, market experts are calculating what trends they think will dominate the industry in the coming year. Realtor.com® recently released their annual report and according to Forbes, we can expect rising mortgage rates to impact affordability, a slowing market, and rising home prices—albeit at a lesser rate than we’ve seen in recent years.
The shifting Seattle real estate market has grabbed headline after headline in recent months, with the Seattle Times making proclamations earlier this week that suggest Seattle’s home prices are dropping faster than any other metro area in the nation. Contrary to headlines, however, trendlines point to a much different outcome, indicating slowing—not lowering—home price growth, amidst rising inventory and typical seasonal trends for the region. So, what does this mean for homebuyers in the Emerald City?