Will Prices Fall Back? And If So, How Far?

It’s a complicated question and resale will behave differently than new construction. Most existing home sellers don’t have to sell, which is why we have seen cancelled and expired listings increase some 500% in recent months. In a normal month we can see between 200 and 400 listings removed from the market. The average between September and December 2022 was near 1,900 listings per month taken off the market.

Read Todd Britsch's market insights in the 2023 Forecast Report.

by Todd Britsch | Senior Vice President Level Capital, LLC

Living View West

I am confident that the downward slide in pricing for both new and resale is over. The Puget Sound will be entering a more stable market for the foreseeable future. The closing data coming in the next 30 to 90 days should support my theory.

–Todd Britsch

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Why We Build Sustainable Homes

For folks that are not in the market for a new sustainable home for whatever reason, there are plenty of practices and systems that you can implement in your current home to live your healthiest, most sustainable life. Following the Passive House philosophy, making your home as airtight as possible will increase its efficiency. Replacing old leaky windows with double or triple-pane windows, adding more insulation, and swapping out high-water-use plumbing fixtures with WaterSense fixtures and toilets can contribute to a home’s sustainability and ultimately save money. 

As the impact of climate change on the world around us creates unpredictable weather—a wildfire season that stretches into the fall, more winter storms, and heat waves previously atypical in the Pacific Northwest—sustainability needs to be on everyone’s mind. At Dwell, we believe it’s not just about making responsible decisions during the building process, it’s about creating a home that is sustainable for your best-lived life today, and in the future.

Read more about sustainable living from Anthony Maschmedt,
a local leader in Built Green development

by Alan Pope | Real Estate Appraiser and Consultant | Pope Azeltine, Inc.

Poulsbo

WELCOME TO THE 

A COMPREHENSIVE LOOK AT THE PACIFIC NORTHWEST'S EVER-CHANGING RESIDENTIAL REAL ESTATE LANDSCAPE

Request a copy of the

2023 Forcast Report, today.

Request a copy of the

2023 Forcast Report, today.

Request a copy of the

2023 Forecast Report, today.

Request a copy of the

2023 Forcast Report, today.

Inflation above 8%, volatility in the stock market, the rising cost of borrowing money, public discord, employment concerns, and international conflict are a few of the major influences that drove the housing industry’s transition from a market heavily favoring sellers to one more ideal for buyers.

As a real estate appraiser and consultant for over 47 years, I have actively analyzed the characteristics that create the ebbs and flows of the housing market. During my years in the industry, the Seattle metropolitan area experienced five major corrections and several smaller transitions. In the 1960s through 1990s, employment fluctuations at Boeing drove the housing industry. A typical 10-year period saw a slow market during the first two to three years of a decade, stability over the next two to four years then strong demand and an appreciating market to finish the cycle.

In the 1990’s the growth of the high-tech and bio-tech industries in the Puget Sound region created changes in every aspect of local housing. Once a blue-collar community of modestly priced subdivision homes, the Seattle metropolitan area experienced inbound migration and demand for a highly paid well-educated workforce, and for the next 20-plus years, these influences have continued to become a major factor in the demand and pricing for residential real estate including changes in the architectural style, home square footage, and cost.

Read Alan Pope's full analysis in the 2023 Forecast Report.

History Repeats Itself; Good News for the Long-Term Investor

CURVES & ARCHES

Within architecture and design, curves and arches help soften a space and bring an elevated level of comfortable luxury.

BOLD WALLCOVERING 

Want to make a statement but are afraid of the commitment? Bold wallcovering paired with neutral furnishings can make that statement for you. Mix it with other patterns throughout the room to bring personality to any space.

HIGH SHINE

All matte is out. Now, it is all about high-shine paints, wall coverings, and shimmery fabrics. It’s a unique way to brighten up any space.

2023 Trends from Seattle Design Center

by Kat Lawton | Kat Lawton Interiors

Snohomish

First Hill

Sammamish

Gig Harbor

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The housing market is resilient. With every down cycle of two to three years, there are, more or less, seven years of stability and growth.

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Where you live matters. In 2023, we’re focusing on five different communities across the Puget Sound that offer specific opportunities for new residents. For some, it’s a rare influx of housing availability, for others it’s about yet-untapped city growth or the anticipation of equity gains in a transitioning city center, and for some the focus is on the unique opportunities that offer a lifestyle unlike any other across the region.

Markets

that Matter

by Anthony Maschmedt  |  Principal Dwell Development

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