Seattle Economy and Housing Market Snapshot

Seattle Spaces & Places

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Local economist, Matthew Gardner, of Gardner Economics, stopped by our Premier Properties networking breakfast this morning to share his thoughts on the local economy and housing market. The long of the short of it is that the Seattle area economy is doing better than most. We have declining unemployment, positive job growth, and an expanding economy. Companies like Facebook and SpaceEx agree, which is why they’re not only opening up Seattle area offices, but making bold statements about their plans to grow. All of this is well and good, but as Mr. Gardner pointed out, it’s adding pressure to an already tight housing market where there isn’t nearly enough supply to meet the demand. So far this year, the lack of inventory is having a somewhat negative impact on sales, but not on prices; they continue to appreciate at a healthy pace. The one thing our market is missing?…

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