Amazon’s Impact on Bellevue Housing

During March and April this year, Amazon became the largest office occupant in Bellevue overnight taking eight (8) buildings in a lease, build, and buy combination. There has been a large effect on Bellevue housing especially in contrast to the market that went before: Bellevue had a robust rising housing market until August 2018 when …

Why High-Flying U.S. Home Prices Are About to Get Another Jolt Bloomberg

From Bloomberg 2018.04.25 –

Full Bloomberg Article with graphics

Reports on Tuesday underscored both resilient purchase activity and accelerating home prices. The S&P CoreLogic Case-Shiller index showed property values in 20 major U.S. cities climbed 6.8 percent in February, the biggest year-over-year gain since June 2014. Government data revealed a faster-than-projected rate of new-home sales …

Construction Costs and House Prices – UPDATED

The graphic with this blog is concrete prices. It shows concrete rising fast. On lumber the Wall Street Journal reported March 1st “With Lumber in Short Supply, Record Wood Costs Are Set to Juice Home Prices”. This is correct. King County average home price up to $627,000 in 2017, which is a 14.4% YOY increase …

Construction Costs and Low Margins

As consumers study the purchase of a new home there is universal shock at the retail prices of new tract homes and construction costs in the case of custom building. Inside construction firms this topic is coming up daily and maybe several times per day. This does not happen in the car market for example. …

Rising, Plateauing, or Cresting? That is the question.

Wall Street Journal reports that commercial real estate purchase prices have crested nationwide (WSJ March 23rd). Colliers reports that Bellevue commercial lease vacancy will double over the medium term with the corresponding softening of lease rates (report Jan 2016). Dupre + Scott report that Seattle apartment vacancies have risen to 3% which is still not …

Single Family Home Sales

Single Family Home Inventory is at an all-time low of 1.1 months (Seattle Times December 4th). Six (6) months of supply is traditionally considered a balanced market. Case-Shiller index indicates we are back at, or surpassing, our peak prices from 2007/2008. However, that seems to be nominal dollars as the actual inflation adjusted Case-Shiller index …

Foreign Buyers Of Real Estate

From the Wall Street Journal and National Association of Realtors –

Real estate transactions involving a foreign buyer made up just 1% of total transactions in Washington State in 2010 and rose to 4% in 2014. Just about all of those foreign buyer transactions were concentrated in the Greater Seattle area with the foreign buyer …

Eastside Home Prices Rising

The good news is residential sellers in King County have pretty much regained the peak prices from prior to the recession (prices just 0.2% off peak right now). That written, this is a comparison in nominal dollars not adjusting for inflation during the intervening period. Tough to be a buyer with inventory low, prices rising, …

Arbors At Echo Falls Grand Opening

The Arbors at Echo Falls cordially invites you to the plat Grand Opening being held May 23rd from 11 AM to 4 PM. This is at 20327 118th Ave SE, Snohomish, 98296. New homes fronting the Echo Falls Golf Course on estate sized lots. While you visit with us, we will offer a rolling presentation …