Although national projections for home values remain grim, recent analysis of our local market is significantly better. While analysts project prices in Miami may drop another 20%, they expect to see prices in the Pacific NW remain stable over the next seven months, followed by rapid gain in the next two years. Prices in Tacoma are expected to rise to 25% by March 2013, while Seattle and Portland could see 10% annual increases between March 2012 and March 2014.
According to the David Stiff, the Chief Economist for Fiserv, a real estate market research and analysis firm: "Homes are undervalued in the Northwest. The economy is diverse and the demographics strong. It has tech, manufacturing and extractive industries (like lumbering and mining) and people are still moving into the area." Read the full article here.
Don't wait for prices and interest rates to start rising...if you are considering buying a new home, now is a great time to start looking.
To receive daily updates with new listings, contact me at johnblom@hasson.com or call me at (360) 816-2627!
John Blom
Your Vancouver WA Realtor
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