Another year has passed, as have many pivotal milestones for Realogics Sotheby’s International Realty (RSIR), our brand and the local housing market that we serve. After meteoric home price growth in the region throughout 2016 and 2017, the market began to shift by the second half of 2018. This year’s report includes a 2018 retrospective written by our acclaimed Research Editor and Data Analyst, William Hillis, which explores these changes, including increasing inventory, the fallout from Seattle’s adopted (then repealed) “head tax” and the outcome of Amazon’s HQ2, ongoing political banter at home and overseas; threats of interest rate increases, and more. Hillis also dives into Seattle’s performance on the 2018 S&P CoreLogic/Case-Shiller Home Price Index.
The report then moves toward a look at eight key Western Washington counties and a performance review of 31 regional markets that includes a 2019 home price forecast for each community. Finally, a 2019 Look Ahead affords an indication of key drivers in our region for the coming year, from Federal Reserve monetary policy and rising interest rates to rental headwinds, a balancing market, and beyond.
We offer these thoughts, as well as trends to watch, as a conversation starter with our experienced brokers who live and work in your neighborhood.