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What to Expect in Housing Affordability

What to Expect in Housing Affordability | Windermere Blog | Windermere Real Estate Posted in Economics 101 Videos and Market News by Matthew Gardner, Chief Economist, Windermere Real Estate What keeps Windermere’s Chief Economist, Matthew Gardner, up at night? Housing affordability. As the U.S. Population moves towards both coasts and the Southwest, putting upward pressure […]

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Western Washington Gardner Report Q1 2016

ECONOMIC OVERVIEW Washington State has seen very robust growth over the past 12 months with the addition of 102,600 new jobs, which is 224,000 more jobs than seen at the previous peak in 2008. With this robust growth, it is unsurprising to see the unemployment rate trend down to 5.8%—well below the long-term average of […]

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What’s the Deal with Condos?

A question that I am being asked regularly these days is, “Why isn’t anyone building condominiums anymore? Given the egregious lack of homes for sale – and considering that single family home builders have not done their part to satisfy substantial pent-up demand – one would expect to see developers raising condominium towers at a […]

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Premier Look Book January 2016

This month’s Premier networking breakfast saw more than 150 Puget Sound-area agents come together to hear the latest information on the real estate market. Brokers from as far away as Bellingham joined local brokers at Broadmoor Golf Club to present their newest luxury listings and to discuss 2016 luxury real estate trends and forecasts. This month, we heard […]

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The Gardner Report: Fourth Quarter 2015

ECONOMIC OVERVIEW The Washington State economy has added almost 370,000 jobs since the lowest point of the recession at the start of 2010. Additionally, total employment is 176,000 jobs higher than seen at the 2008 peak. With a vast majority of our metropolitan areas having fully recovered from the job losses seen during the recession, […]

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2016 Economic & Housing Forecast

The National Economic Forecast 1.The U.S. will continue to expand with real GDP growth of 2.3% in 2016. Although a positive number, the forecasted rate of growth suggests that we will be modestly underperforming in 2016.  On a positive note, oil prices are likely to remain well below long-term averages, which puts more money into […]

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The Gardner Report: Third Quarter 2015

Economic Overview After a period of above-average growth, Washington State has seen a modest slowing in employment growth, but we continue to add jobs at a respectable rate. The State unemployment rate was measured at 5.3%, marginally above the national level, but it is trending in the right direction. Although growth continues to be uneven […]

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Will millennials be ‘perma-renters’?

This article originally appeared on Inman.com  Several factors have kept this generation renting, but they won’t last forever Takeaways: Many believe that millennials will continue to be renters and not homeowners for various reasons. The first of the millennials were not even in a position to consider buying until roughly 2008. Credit has become tighter for […]

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Median Single-Family Home Price Hits 500k

According to the NWMLS (Northwest Multiple Listing Service), the median sales price of single-family homes in King County in June climbed to $500,000, up 10.3 percent from a year ago. The last peak? July 2007, at the start of the nation’s housing bubble, when it hit $481,000. No need to fret though, our sources say the market […]

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Homeownership Has Declined, But It Won’t Be Forever

In addition to talking about housing bubbles, another topic that is becoming popular among housing scaremongers is the ongoing decline in the U.S. homeownership rate. Remarks range from the direct, “American homeownership is at its lowest level in more than two decades,” to the downright inflammatory, “Rental surge to drop homeownership rate to 61.3% by […]

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