Is the Seattle Cooling already over?
Seattle housing has been in cool-down mode for more than 8 months. Sellers have had to lower prices, inventory has increased, and buyers have been getting better deals. But now, new reporting shows a 15% year over year uptick in January's pending sales. That refers to the number of homes that went under contract that month.
“This is a crucial time for buyers who’ve been waiting for the right moment,” says Faira CEO Kamal Jain, “because we’re in this short window before the spring season. Taking this new data into consideration, there may not be much more opportunity to get a home under contract for less than listing, like there was in the back half of 2018.”
The bottom line for buyers, says Jain: “Jump in now, or risk getting priced out once the spring season gets into full swing.”
For sellers? Don't expect to get out without negotiations, says Jain, "but the opportunity for profitability, especially with our platform, is absolutely there, and just getting stronger."
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