What's up, downtown
With the housing market in the news on a daily basis, it's hard to stay on top of what's happening. That's why we do it for you. Below you'll find a comprehensive list of articles, news releases and podcasts from around the Puget Sound and around the country. Check back often for weekly updates.
-
ULI ranks Seattle top among real estate markets
Puget Sound Business Journal
Reporter: Jane McCarthy
November 3, 2008
The Urban Land Institute named Seattle its top U.S. real estate market to watch next year, in its Emerging Trends in Real Estate 2009 report released Oct. 21.
-
Queen Anne luxury homes sales soaring
King 5 News Video
Reporter: Jane McCarthy
July 31, 2008
The number of homes sold above 2.5 million dollars is expected to quadruple the number sold last year...
-
Top U.S. Real Estate Markets For Investment
Forbes.com
Author: Matt Woolsey
July 10, 2008
Encouraged by a weak dollar and a belief in the resiliency of the U.S. economy, individuals like Reddy, along with institutional investors such as pension funds and private equity groups, are seeking investment properties and development opportunities in the United States.
Their markets of choice include New York City, Los Angeles, Washington, D.C., Seattle and San Francisco...
..."In 2007, the European investors were looking at the U.S. and were a bit reluctant to make a move because the uncertainty was making them pause," says Karin Shewer, principal of Real Estate Capital Partners, an investment group in New York. "And the dollar, of course, makes a difference. The general sentiment is that the dollar will become stronger in the near term, so people are starting to buy here more opportunistically."
Shewer notes that European and Asian investors favor markets along the coasts, whether that's Boston and New York or Seattle and Los Angeles.
-
Best Cities For Young Professionals - 19. Seattle, Wash.
Forbes.com
Author: Matt Woolsey
July 9, 2008
Though Seattle is a growing destination for young professionals who have taken advantage of its growing economy, the number of Forbes-tracked companies there has not yet reached the level of critical mass to propel it into our top 15. By graduates alone, Seattle ranks ninth, but when you combine that with its 25th place ranking, it slips to 19.
-
Suburbs a Mile Too Far for Some: Demographic Changes, High Gasoline Prices May Hasten Demand for Urban Living
The Wall Street Journal
Author: Jonathan Karp
June 17, 2008
Just as low interest rates and aggressive mortgage financing accelerated expansion of the suburban fringe to the point of oversupply, "the spike in gasoline prices, layered with demographic changes, may accelerate the trend toward closer-in living," said Arthur C. Nelson, director of Virginia Tech's Metropolitan Institute in Alexandria, Va. "All these things are piling up, and there are fundamental changes occurring in demand for housing in most parts of the country..."
"Millennials and baby boomers are in perfect sync. They are at a stage where they both want the same thing," said Mr. Zimmerman, a co-managing director at Zimmerman/Volk Associates Inc. in Clinton, N.J. He said the populations of Americans in their 20s and in their 50s are rising and will add eight million potential housing consumers by the time their numbers peak in 2015. "You've got a recipe for reurbanization on a dramatic scale," he said.
-
They're getting away from it all, to the U.S. - Dollar, real estate slump make American property appealing to foreigners
MSNBC.com
Author: Jane Hodges
June 2, 2008
Peter Oh, a Seattle real estate agent, is planning to open a showroom to market 21 condominium buildings in the Puget Sound region. But he's not looking for a storefront location in downtown Seattle, nor is he planning to locate among the many new high-rises in nearby Bellevue across the lake.
Instead, he's creating a marketing office 5,000 miles away—in South Korea...
... Last year one-third of American agents worked with at least one international buyer, according to the National Association of Realtors. The top five countries supplying international customers were Mexico, Britain, Canada, India and China.
-
Seattle-Tacoma job growth fourth highest in U.S.
Puget Sound Business Journal
Author: Puget Sound Business Journal
May 28, 2008
The Seattle-Tacoma-Bellevue area recorded 33,800 new jobs in the past year, which was the fourth-highest amount of job growth in the U.S., according to U.S. Department of Labor April statistics released Wednesday.
-
Amazon's new mega campus: second biggest project in the U.S.
The Seattle Times
Author: Brier Dudley
May 7, 2008
The company's decision to proceed on a huge new Seattle headquarters campus made the list of "Top Deals" in North America in 2007, compiled by Site Selection magazine ("the official publication of the Industrial Asset Management Council").
Amazon's 11-building project was valued at $1.5 billion and will accommodate 3,000 jobs. Of course it's not a new company coming to town. It's moving from scattered buildings on downtown's south side to a single campus north of downtown at the foot of Allentown.
-
Home prices continue upward trend
The Seattle Times
Author: Elizabeth Rhodes
May 5, 2008
With the release today of April home sales statistics, King County's single-family home prices now have climbed three months in a row—but still are significantly below a year ago. ...Still, the countywide trend is upward, a common price movement in springtime when owners buff up their homes for sale and buyers appear.
-
America's Recession-Proof Cities
Forbes
Author: Joshua Zumbrun
April 29, 2008
Nationally, home prices are falling, unemployment is on the rise and the economy is expected to grow slowly—or even contract—in the first half of the year.
But some cities are doing just fine.
The others holding steady or improving include Austin, Texas; Houston; Charlotte, N.C.; Dallas; San Jose, Calif.; Raleigh, N.C.; Salt Lake City; and Seattle...
...The region around Puget Sound is home to Microsoft, Amazon.com, Starbucks, Costco, Nordstrom and Washington Mutual. What's more, home prices are only half that in the San Francisco Bay Area, and unemployment in the region is falling. Of the 50 largest metropolitan statistical areas in the U.S., Seattle had the strongest growth in manufacturing in the past year. -
Seattle's condo pipeline expected to dry up
Puget Sound Business Journal
Author: Jeanne Lang Jones and Kirsten Grind
April 25, 2008
"With 40 condominium projects in the pipeline for downtown Seattle one might expect a glut of new units on the market. But tight-fisted lenders and hesitant buyers, both reacting to the nationwide credit crunch, have severely hobbled the once high-stepping market.
The pace of development has slowed so sharply that local experts predict a shortage in 2010 that could drive prices up. One consultant forecasts delivery of just 189 new units that year -- down from an average of 1,100 anticipated in each of the prior three years.
Behind the prediction: No new condo project has broken ground downtown since the last two buildings -- 275-unit Escala and 204-unit Equinox -- got under way last summer, said the consultant, Dean Jones, president of Realogics Inc., a Seattle-based condo research and marketing firm...
...Ironically, the slowing market just might protect condominium prices, by reining in supply at a time there is uncertain demand from buyers, said Jones." -
In some housing markets, homes aren't only retaining value—they're gaining
Yahoo Finance
Author: Amy Hoak
April 12, 2008
The strong employment picture in Seattle caused home prices there to rise after other major cities reached their peaks. Appreciation there in the fourth quarter was just over 1%, according to NAR, but it is believed that the city's employment landscape is keeping Seattle housing from losing value.
-
Experts expect greater demand for urban condos
King 5 News Video
Reporter: Jane McCarthy
Some real estate experts are saying the market for urban condominiums could soon turn back in favor of sellers.
-
The No. 1 Champion: Bellevue, Wash.
CNNMONEY.COM
Author: Mina Kimes
March 26, 2008
Bellevue's strategic location helps fire growth. GMI, whose revenue rose from $6 million in 2002 to $28 million last year, is based near its suppliers - Hitachi (HIT), Symantec (SYMC), Sun Microsystems (JAVA, Fortune 500) - as well as customers such as Boeing (BA, Fortune 500) and Starbucks (SBUX, Fortune 500).
"Many of our employees came from our clients," Overstreet says.
The city is also a font of tech talent, thanks to the Microsoft (MSFT, Fortune 500) campus in nearby Redmond. Many former Microsofties have launched startups in Bellevue. Current employees pour wealth into a growing service sector.
Overstreet points out that many small businesses in Bellevue operate globally - not surprising considering that 40% of the population is nonwhite or foreign-born.
-
Downtown Bellevue condos beckon to younger crowd
Seattle Times
Author: Ashley Bach
March 11, 2008
The youthful migration shows no signs of letting up, according to developers and city officials. Yahoo and Expedia are set to open downtown Bellevue offices this year, and Microsoft plans to move 1,850 more employees downtown by early next year. Along with several office buildings, about 3,200 apartments or condominiums are under construction, and an additional 2,000 are in the pipeline. The number of downtown residents is expected to nearly double in the next two years, from 5,000 to 9,800, and to shoot up to 14,000 by 2020. "It's not uncommon to see a 28-year-old tech worker in a $1 million condo," said Dean Jones, president of Realogics, a Seattle company that markets several Bellevue residential projects.
-
Housing market perking up
Seattle PI
Author: Aubrey Cohen
March 5, 2008
A statement accompanying the data highlighted increases in pending sales from January to February, with jumps of nearly 30 percent in Seattle, and slightly less in King County and the 19 counties in Western Washington that the service covers. Increased traffic at open houses and reports of homes fetching multiple offers also are "signs of an emerging spring market," it said. "In March, the real estate market is set to get its mojo back," J. Lennox Scott, chairman and chief executive of John L. Scott Real Estate, said in the statement. "We're already seeing the momentum build."
-
The Eastside's Edge
Seattle Times
Author: Lynn Varner
March 2, 2008
"What you're seeing on the Eastside is a natural occurrence of a robust region," says local economist Dick Conway. Recessions, another economist told me, are like tornadoes. They may wipe out one economic sector but leave others standing. The sectors still standing strong in this region are our two biggest engines, Eastside-based Microsoft, and pan-Puget Sound Boeing. The former is adding employees at a rate of 3,000 a year. Boeing has an army-sized work force and robust airplane orders. Indeed, the weak dollar may be hurting the rest of America, but it makes our products more competitive. Our exports are twice the national average. Economic jitters also appear to be skirting the Eastside's residential- and commercial-development sectors. The housing market here continues to mushroom.
-
Forecaster calls for economy to remain resilient
SCBJ
Author: John Wolcott
February 27, 2008
The Pacific Northwest economy is strong, thanks to Boeing, Microsoft, Amazon and many others that are doing well. Even on the national scene, the resilience of the economy is strong, making talk of a recession premature. That's the message presented in Everett last month at Frontier Bank's annual economic forecast by Michael Parks, editor and publisher of the highly respected Marple's Pacific Northwest Letter on the regional economy.
-
Seattle home prices rose 0.5% in 2007
Seattle Times
Author: Elizabeth Rhodes
February 26, 2008
With a full year's numbers now in, S&P/Case Shiller is reporting that Seattle's single-family homes appreciated a meager 0.5 percent in 2007&emdash;and still that made it one of the standout markets in an otherwise dismal year.
-
U.S. existing-home sales, prices fall; King County bucks national price drop
Seattle Times
Author: Associated Press
February 26, 2008
The median price of a home sold in January slid to $201,100, a drop of 4.6 percent from a year ago. Bucking the national trend, King County's median price climbed 4 percent in January, compared with a year earlier, for detached houses and condos combined. January's King County sales were down 30.6 percent compared with a year earlier. However that was an improvement over December's year-over-year sales, which were down 33.1 percent.
-
Is Seattle facing a recession?
Washington CEO
Author: Brian Corliss
February 11, 2008
King County should continue to experience job growth. Boeing and Microsoft both have been expanding, and their most recent quarterly reports indicate this should continue, at least in the near term. With unemployment rates at record-low levels last year, the two companies have been forced to recruit workers from outside the state. That steady flow of new high-wage workers should drive demand for local housing, goods and services. Further, as Microsoft expands, it's snapping up office space across King County, which is helping drive a strong market for commercial real estate.
-
No equal-opportunity recession
Seattle Times
Author: Jon Talton
February 10, 2008
Now in Seattle as a trainer for Starbucks, Jacobs says a recession is "imminent ... people I meet who have moved from all over the country have seen it where they came from. There's no way Seattle can dodge the bullet. It's very scary." I got another perspective from veteran local economy watcher Michael Parks, editor and publisher of Marple's Pacific Northwest Letter. He's mulling over an "R word," too: resilience. "As is usual, the Washington state economy is out of phase. We're prospering when rest of country is slow," says Parks, who sees slower growth in 2008 but no recession.
-
Forces Are Arrayed Against Overbuilding in Seattle
Puget Sound Business Journal
Author: Dean Jones
February 8, 2008
With the recent proliferation of conflicting local and national real estate headlines, it's no wonder home buyers find themselves sidelined in confusion about the state of Seattle's housing market.
-
Retail lags in Seattle's booming city core
Seattle Times
Author: Eric Pryne
February 8, 2008
Downtown Seattle is thriving with new office and residential activity, but needs to focus on beefing up its retail core, the president of the Downtown Seattle Association said in her annual "state of downtown" address Thursday. The boom should go on because Seattle is becoming a preferred destination for work and play, said Isadore Sharp, chairman of Four Seasons Hotels and Resorts, who also addressed the forum. Four Seasons is building a 21-story tower of hotel rooms and luxury condos downtown.
-
-
Optimism on the economy, even as the layoffs trickle in
Seattle PI
Authors: Craig Harris & Andrea James
February 8, 2008
Gov. Chris Gregoire, at a Seattle economic forum Thursday, boasted she has found that Washington is "literally the envy of other states. I ask all of us to make sure that we do not buy into, or even for that matter, listen to, the dire talk internationally and nationally, because it can become a self-fulfilling prophecy for us," Gregoire said. "We must be optimistic. We must understand our economy is strong and growth is going to continue to be the future.
-
-
The geography of recession
Seattle PI
Author: Seattle PI
February 7, 2008
The latest national statistics are gloomy. Yet America's economic downturn will be felt unevenly.
-
-
Seattle is on the global path: What it takes to be a world class city
Seattle PI
Author: Andrea James
February 7, 2008
Seattle is a leading city for diversity and smart, young talent. The city ranks No. 1 in growth of 25- to 34-year-olds living close to the central business district. And diversity is increasing -- 17 percent of Seattle is foreign-born, and many residents are refugees, Segal said. The health of downtown is key to the state's economy, Gov. Chris Gregoire said. "As I look at the economy here, I look at the culture and I look at the diversity of our people, it is this that makes us so strong as a city.
-
-
'07 home prices not so bad after all
Seattle Times
Author: Seattle Times
January 29, 2008
With all the dismal national news about home sales, wasn't 2007 supposed to be the year the local real-estate market died?
-
-
2007 real estate recap: Local home prices were up, sales were way down
Seattle Times
Author: Elizabeth Rhodes
January 22, 2008
Conventional wisdom had 2007 as the year Puget Sound home sales followed the national trend and finally tanked. And indeed as the year ended the number of for-sale properties was high and prices were static.
-
Law of supply and demand says: Buy a home now
AJC.com
Author: David Ellis
January 18, 2008
On the bright side for everyone, the economy here remains robust (one of the reasons Atlanta has not seen severe fluctuations in housing prices), highlighted by projections that Atlanta will show positive job growth when final numbers for 2007 are reported in the first quarter. Despite the doom-and-gloom articles on national statistics that appear regularly in print, the Atlanta housing market has shown considerable stability, along with cities like Seattle, Dallas and Charlotte, a long-term benefit for home buyers.
-
Seattle economy due for 'good ride' in 2008
Seattle PI
Author: Andrea James
January 17, 2008
Bringing things home, Puget Sound-area economic forecaster Dick Conway said that this area will have a good ride in 2008 for four reasons: A national recession won't hit; the world economy is expanding and the dollar is weak, which helps Seattle; Washington's largest employers are hiring; and the area has a high rate of people moving here.
-
State jobless rate up slightly in December: But year-end figures show that the rate is at a historical low
Seattle PI
Author: Curt Woodward
January 15, 2008
The latest state figures continue a yearlong streak of low unemployment. Economists said 2007's average jobless rate of 4.7 percent was the lowest since the state started keeping records in 1976. Economists typically say anything below 5 percent is textbook full employment. Gov. Chris Gregoire said the statistics show Washington is "making good decisions and doing right by businesses in this state." "It is heartening to go into a new year with such a strong economy," Gregoire said in a statement.
-
Best Cities For Jobs In 2008
Forbes
Author: Matthew Kirdahy
January 10, 2008
The top cities on this list also include Atlanta, plentiful in transportation, distribution and financial services careers. Indianapolis has a strong showing in agriculture, too. Omaha, Neb., Warren Buffet's hometown, offers jobs at opposite ends of the spectrum, in financial services and agriculture as well. The Emerald City--Seattle--brings aerospace and global trade professions to the table.
-
State's outlook beats the average
The Columbian
Author: Julia Anderson
January 9, 2008
Washington is in for a "better-than-average year" despite turmoil in the nation's financial sector, the housing slowdown and a weak dollar, said Seattle-based economic newsletter editor Michael Parks on Tuesday.
-
Amazon Consolidates in Growing Area of Seattle
New York Times
Author: Kristina Shevory
January 9, 2008
Across the city, it is much the same story. Seattle has largely managed to avoid the economic slowdown hitting other parts of the country because the city's corporate giants&emdash;Microsoft, Starbucks and Amazon&emdash;are still hiring. Boeing is selling a record number of commercial jets, trade with Asia remains strong and start-ups fueled by venture capital are opening.
-
Home prices drop in December
Seattle Times
Author: Elizabeth Rhodes
January 7, 2008
Strong condominium price growth helped buoy overall housing appreciation last month, but still it wasn't enough to keep it out of negative territory in King and Snohomish counties.
-
Despite slowdown, brokers see 'pent-up' demand in housing market
K5
Author: Liza Javier
January 7, 2008
Condominium prices, however, continued their upward trend, registering a 5.4 percent increase from a year ago. Area-wide, December 2007 condos had a median sales price of $252,900, compared to $240,000 a year ago. In King County, which accounted for 65 percent of sales, the median sales price for December's closed sales of condominiums was $290,000, up more than 7.4 percent from a year ago when the median price was $269,950.
-
Region likely to dodge economic doldrums
Seattle Times
Author: Drew DeSilver
January 1, 2008
"There's a lot of doom and gloom dominating the national headlines, but the Seattle market continues to prosper," said Wells Fargo senior economist Scott Anderson. "Seattle continues to lay the groundwork for another decade of expansion."
-
Seattle developers ease rules to lure loonies
Western Investor
Author: Western Investor
January, 2008
Washington State-based condominium developers are easing regulations in a bid to attract Vancouver investors more attuned to buying and flipping unbuilt property.
-
America's Best & Worst Housing Markets
Forbes
Author: Matt Woolsey
January 25, 2007
While speculators and flippers in places such as Boston and San Diego are running for cover, in other parts of the country they are basking in robust residential sales.
-
Local housing market resilient
Seattle Times
Author: Samuel L. Anderson
January 24, 2007
The media have been all abuzz over the past year about the softening in the housing market. So much so that in a recent Associated Press survey, U.S. newspaper and broadcast editors voted the slowdown in home sales, home construction and home prices the top business story of 2006.
-
City's home prices to keep soaring
Seattle PI
Author: Aubrey Cohen
January 24, 2007
The city just saw its third consecutive year of double-digit percentage increases in home prices. The price of a typical Seattle house rose by 12 percent in 2006.
-
Seattle bucks trend on slumping condos
Seattle PI
Author: Aubrey Cohen
January 17, 2007
Seattle's market was not to blame for a recent decision to change a planned 34-story downtown building from condominiums to apartments.
-
Sales centers give you a feel for your condo before it's even built
Seattle PI
Author: Aubrey Cohen
February 27, 2007
Condominium sales centers are becoming an over-the-top part of Seattle's evolving construction boom as developers go to increasingly elaborate lengths to target buyers for buildings that don't exist yet.
-
Area's housing prices still strong
Seattle PI
Author: Aubrey Cohen
February 16, 2007
Whatever is happening to the region's housing market, its home prices held up better than in much of the nation.
-
Housing sales fall in 40 states; but not in Northwest
Seattle Times
Author: Martin Crut Singer
February 16, 2007
The slump in housing deepened in the final three months of last year with sales falling in 40 states and median home prices dropping in nearly half the metropolitan areas surveyed.
-
The year of the condo in downtown Seattle
Seattle Times
Author: Amy Martinez
February 11, 2007
More than a dozen residential projects are in some stage of planning. They would add more than 3,000 units downtown if all were built, according to the city's planning department.
-
Uptown Downtown
Pacific Northwest Magazine
Author: Monica Soto Ouchi
February 4, 2007
Fifth and Madison is just one among dozens of luxury-condominium towers bursting out of the ground at a pace rivaled only by the office-tower boom of the 1980s when some of the city's tallest buildings - the 76-story Columbia Tower among them - changed the face of downtown.
-
Local construction market taps on
Seattle Daily Journal of Commerce
Author: Ken Simonson
March 29, 2007
Construction in Washington appears to have lost a bit of momentum but is in much stronger shape than in most states.
-
Local housing market still cooking
Seattle Daily Journal of Commerce
Author: Marc Stiles
March 29, 2007
And, oh yes, the housing market. In a nutshell, you should count your lucky stars that you're building in the Northwest.
-
Seattle housing prices up 11% from last year
Seattle PI
Author: Aubrey Cohen
March 28, 2007
Seattle's housing prices aren't falling like those in much of the country, but the supercharged increases of two years ago have definitely slowed.
-
King County growth booms
Seattle PI
Author: Aubrey Cohen
March 22, 2007
Strong job growth in King County and longer commutes to outlying communities are two reasons experts give for new U.S. Census estimates saying the county is growing faster than it has in years.
-
Numbers Don't Lie, But They Do Confuse
Washington Post
Author: Kenneth R. Harney
March 10, 2007
With all the conflicting reports on housing prices and the direction of the market, you might ask: What's really going on out there?
-
Conversions preserve history, fill affordability gap
Seattle Daily Journal of Commerce
Author: Ben Rankin
March 8, 2007
Over the last decade, the gap between workforce wages and housing costs has ballooned in and around Seattle. This shift leaves an unfulfilled demand for affordable for-sale housing in Seattle's urban core, and forces many prospective buyers to look for homes significantly outside city limits.
-
Spring forecast: hot housing market
King5
Author: King Staff
March 8, 2007
Home prices in Pierce County have hit a record high, and that's setting up for a hot spring for home sales.
-
February home sales climb
The Seattle Times
Author: Elizabeth Rhodes
March 8, 2007
It's too early to say if this spring's home sales will be a repeat of last spring's frenetic activity, but February's home sales point to it, according to statistics released Wednesday by the Northwest Multiple Listing Service.
-
Home prices go back up in February
Seattle PI
Author: Aubrey Cohen
March 8, 2007
Seattle home prices recovered somewhat in February from a January dip, but sales slowed, and the number of homes on the market increased.
-
Housing prices still rising, but not as quickly
Seattle PI
Author: Aubrey Cohen
March 2, 2007
Seattle-area houses still are appreciating faster than most, but not as fast as they were, according to new federal statistics.
-
Seattle housing prices strong -- for now
Seattle PI
Author: Aubrey Cohen
April 25, 2007
Lucie Turcotte knew her move from Minneapolis would come with higher home prices, but she was surprised that Seattle houses were selling days after going on the market and for more than the asking price.
-
U.S. house-price decline accelerates, but not here
Seattle Times
Author: Joe Richter
April 25, 2007
Declines in home prices in 20 U.S. metropolitan areas accelerated in the 12 months ended in February, a private survey showed Tuesday.
-
After a 2-month lull, home prices take off
Seattle Times
April 06, 2007
After stalling for two months, home prices in King and Snohomish counties perked up last month, disappointing potential buyers who thought slowing price appreciation had presented an opportunity.
-
Good homes stood out in the crowd as housing sales slow
Seattle PI
Author: Aubrey Cohen
April 06, 2007
There are more homes on the market in Seattle these days -- and their prices slowly are creeping up.
-
Boom in condos keeps builders going
Seattle PI
Author: Aubrey Cohen
May 15, 2007
While home construction has plunged in much of the country, Seattle's new condominiums and apartments are buoying the local market.
-
Where Home Prices Are Hot Now Despite the Housing Slowdown
Real Estate Journal
Author: Dean Treftz
May 10, 2007
The housing news isn't all grim. Even as prices sag nationwide, there are several cities in the country where home values are climbing smartly.
-
Seattle's growth is at its fastest in decades
Seattle P-I
Author: Elizabeth Rhodes
June 27, 2007
Seattle's growth over the past year was the fastest of any year in at least the past four decades, according to new state estimates.
-
Seattle-area housing prices still rising, but not as quickly
Seattle P-I
Author: Aubrey Cohen
June 27, 2007
Seattle continues to defy a national trend of declining home values, but city house price increases are slowing, according to a Tuesday report.
-
Where the housing boom goes on
CNN Money.com
Author: Les Christie
June 27, 2007
In the middle of a nationwide housing slump, a few markets have held their ground - and then some.
-
Region's housing prices go own way: Up
Seattle P-I
Author: Jennifer Langston
July 31, 2007
Seattle-area home values continued to rise in May, bucking a national trend of declining home prices, according to a Tuesday report.
-
Two more tech firms grabbing space on Eastside
Puget Sound Business Journal
Author: Jeanne Lang Jones
August 31, 2007
Two more tech powerhouses are adding major outposts in Bellevue.
-
State among leaders in home appreciation nationwide in second quarter
Seattle Times
Author: Seattle Times
August 30, 2007
Compared with the first quarter, U.S. home prices rose in the second quarter at the slowest pace in nearly 13 years, according to government data that provides fresh evidence of the housing market's problems.
-
Wenatchee top in home-price gains
Seattle P-I
Author: Aubrey Cohen
August 30, 2007
Home values accelerated faster in the Seattle area than nearly everywhere else in the country in the second quarter, but Wenatchee topped the national list, according to new federal data released Thursday.
-
Home prices here up, but not way up
Seattle P-I
Author: Aubrey Cohen
August 29, 2007
Seattle-area home appreciation continued its long slide back to reality in June, according to data released Tuesday.
-
Sunny in Seattle
CNBC
Author: CNBC
August 14, 2007
To stay strong in the housing market, it's all about location, location, location. Insight with CNBC's Jane Wells and William Crow, Raymond James & Associates analyst
-
Condos driving the housing market
Seattle P-I
Author: Aubrey Cohen
August 7, 2007
Condominiums increasingly are driving Seattle's housing market, according to new information released Monday.
-
If You Buy Now, Will You Lose Money?
Washington Post
Author: Elizabeth Razzi
September 29, 2007
It takes a bit of courage to buy a home in a weak real estate market. But buying can still be a reasonable, financially sound choice for anyone with the traditional reasons for settling down...
-
Bellevue to wear Prada
Puget Sound Business Journal
Author: Jeanne Lang Jones
September 28, 2007
Bad enough that Neiman Marcus picked Bellevue over Seattle for its first store in the Northwest. Now there's a further blow to Seattle fashionistas. The Bellevue Square Nordstrom is getting Prada designer clothes as part of its remodel; the Seattle flagship store is not.
-
Seattle home-appreciation leads nation
Seattle P-I
Author: Aubrey Cohen
September 25, 2007
Seattle-area home appreciation has been the hottest in the nation for 11 months in a row, despite steadily slowing for the past year and a half, according to data released Tuesday.
-
No Housing woes in booming Washington State
Reuters (ran in NY Times and more)
Author: Jim Christie
September 20, 2007
While California suffers in the housing crisis, the economy of nearby Washington state is flourishing with strong job growth and some of the highest appreciation in home prices in the nation.
-
Top 10 Global Trends Affecting Downtowns
Progressive Urban Management Associates
Authors: Brad Segal & Jamie Licko
Fall 2007
While the planed is gripped in a period of porfound change, it is difficult to fully understand and respond to these changes on the local level. To help downtowns and communities better anticipate and respond to global change, Progressive Urban Management Associates (P.U.M.A.) has developed an unprecedented body of research that analyzes the top changes, draws and conclusions and recommends tangible actions.
-
As Microsoft goes, so goes Seattle
The Seattle Times
Author: Brier Dudley
October 5, 2007
Not long ago, a lot of people in the Seattle area had a beef with Microsoft. They were infuriated by stock-option millionaires bidding up real estate, pricing normal folks out of the housing market. Until they decided to sell to a Microsoftie, of course. Now the tables have turned. Microsoft may not be minting millionaires anymore, but it's growing at a time when Seattle's glad for anything that can keep its housing market from crashing like in other parts of the country.
-
In the Northwest, Hard by Canada, a Secret Is Out
The New York Times
Author: Barbara E. Hernandez
October 5, 2007
For many Canadians, like Erwin Phillips, another attraction was Birch Bay's lower prices. Canadians watched their British Columbia coastline being devoured by development, and then watched real estate prices skyrocket. Many chose to cross the border and buy American.
-
Condo sales cloud the numbers: They typically sell for less than houses
Seattle PI
Author: Aubrey Cohen
October 5, 2007
Changes in the median home price in Seattle could misrepresent weakening in the city's home market, according to analysts. For one thing, an increase in condominium sales drags down the median, because condos tend to sell for less then houses. Condos made up 41 percent of home sales in September, up from 33 percent in August and just under that in September 2006, according to the Northwest Multiple Listing Service.
-
America's Most Stable Housing Markets
Forbes
Author: Matt Woolsey
October 1, 2007
Nationwide, home prices are falling, sales are sluggish and the number of foreclosures is mounting. Ask any economist and you'll hear that things are bad, and likely to get worse.
-
U.S. Home prices drop for quarter; not so here
Seattle Times
Author: Marcy Gordon
November 30, 2007
U.S. home prices marked a quarterly decline for the first time in 13 years in the third quarter, according to government data released Thursday that provide fresh evidence of the housing-market slump. But Washington cities continued to defy that trend.
-
South Lake Union is booming: Development surpassing mayor's prediction in 2003
Seattle PI
Author: Joseph Tartakoff
November 27, 2007
And 1,850 residential units occupying nearly 2 million square feet will be built in South Lake Union by 2008, more than twice as much as the city projected four years before. City Councilman Peter Steinbrueck said even that was not enough, considering the growth taking place. "There's still far more housing that's needed that isn't being built," he said, adding that for every 7.5 jobs in South Lake Union, there was one household. "It's about half of what it should be."
-
Best Cities For Young Professionals
Forbes
Author: Matt Woosley
November 26, 2007
San Francisco clocked in at No. 2 and Atlanta at No. 3. Los Angeles, Washington, D.C., Boston and Seattle filled spots four through seven, and Minneapolis, Philadelphia and Denver closed out the top 10.
-
Best And Worst U.S. Housing Markets
Forbes
Author: Matt Woosley
November 21, 2007
Out West, it's a tale of the north versus the south. Housing markets in Northern California and the Pacific Northwest continued to rise: San Francisco prices jumped 8.6% to $825,400; in Seattle, prices rose 6% to $394,700; and in Portland, Ore. prices increased 5.2% to $299,700.
-
Condos a bright spot in housing market
Seattle Times
Author: Elizabeth Rhodes
November 17, 2007
The condo market is healthier than the detached-house market, and prices are holding their own. Those are the key findings from an analysis released Friday of the Seattle-area condominium market by Glenn Crellin, director of Washington State University's Center for Real Estate Research. Compared with a year ago, single-family home sales are down about 25 percent in King and Snohomish counties, while condo sales are down a more modest 15 percent, Crellin noted.
-
Seattle's housing holding up in market: Condo purchases on rise as economy slows
Seattle PI
Author: Aubrey Cohen
November 16, 2007
Condo sales have become a larger part of the area's market in recent months, with sales holding up better than sales of houses, Crellin noted. Condo sales in Seattle have increased from about 30 percent of total sales a year ago to 40 percent in recent months, according to data from the Northwest Multiple Listing Service.
-
Seattle keeps hearing dreaded 'R' word: Housing weakens, but trade could help keep state out of a recession
Seattle PI
Author: Andrea James
December 31, 2007
The Pacific Northwest economy is increasingly tied to growth in Asia, including China, which has shown no signs of stopping, said Warjone, whose portfolio of businesses includes real estate, timber and international trade.
-
Seattle housing market should slow, not crash
Puget Sound Business Journal
Author: Peter Lewis
December 28, 2007
As for new condos, development in Seattle is slowing, partly because financing is getting tighter, said Leslie Williams, president and CEO of Williams Marketing, which specializes in condos. That means that even if relatively strong demand persists, the supply will decrease by the second half of next year, she said." On the resale side, competitively priced condo units are moving in about 90 days. Sellers have had to lower their expectations from a few years back, when condos generally sold in two or three weeks.
-
U.S. home prices fall at record pace
Los Angeles Times
Author: Andrea Chang
December 27, 2007
Only three regions showed positive growth rates. Home prices held up in the Pacific Northwest, with increases of 3.3% in Seattle and 1.9% in Portland, Ore. Charlotte, N.C., fared the best, with prices up 4.3% over the previous year.
-
Seattle housing market: Not as grim as rest of U.S.
Puget Sound Business Journal
Author: Puget Sound Business Journal
December 26, 2007
Seattle is only one of three U.S. cities where home prices continued to rise in 2007 as the rest of the country sees plummeting home values. In the 20-city S&P/Case-Shiller Home Price Indices survey for October, the nation's average prices fell more than 6 percent from year-ago levels. In Seattle, though, there was a 3.3 percent gain while Portland, Ore was up 1.9 percent. Charlotte, N.C., topped the list with a gain in October of 4.3 percent.
-
South Lake Union growth goes full throttle
Seattle Times
Author: Bob Young
December 11, 2007
Led by Vulcan, Paul Allen's development firm, South Lake Union's extreme makeover is about one-quarter complete. All the new construction equals nearly two 76-story Columbia Centers, and adds about 6,500 employees and 3,800 residents. That doesn't include 4,000 Amazon.com employees rumored to be coming. Mayor Greg Nickels said last week he expects an announcement soon about a "bookseller to be named later" moving to South Lake Union.
-
Close to home: Seattle housing market is cooling more slowly than elsewhere
USA Today
Author: Noelle Knox
June 22, 2006
Seattle's strict growth-management policies and an economic rebound are buffering the region's real estate market from cooling trends.
-
Bubble-Proof Markets
CNN Money
Author: CNN Money
2006
Income trends and development restrictions have made each of these top cities safe bets for investors, reports Business 2.0 Magazine in its November 2006 issue.
-
More Data on Weak House Prices
Seeking Alpha
Author: David Jackson
July 20, 2006
The WSJ's quarterly survey of the US housing market showed that while there is no sign of a collapse, house prices are falling in some areas, levelling off in others, and the number of homes for sale is rising accross the country.
-
Condos appreciate strongly; studios lead
Seattle Times
Authors: Elizabeth Rhodes & Justin Mayo
July 16, 2006
This year, The Seattle Times did such an analysis, based on data from the King and Snohomish county assessors. The Times analyzed condominium data in much the same way it has done for its annual report on single-family home values.
-
Rising Inventories Weigh on Home Prices
Wall Street Journal
Author: James R. Hagerty
September 12, 2006
A continued rise in inventories of unsold homes in August signals further downward pressure on home prices in many parts of the U.S.
-
Home Prices Keep Sliding; While Hesitant Buyers Sit Tight
Real Estate Journal
Author: James R. Hagerty
October 26, 2006
The air continues to seep out of the U.S. housing market, according to the latest data, and some economists are warning that prices will keep declining through much of 2007.
-
Where Home Prices Are Falling, Rising or Just Staying the Same
Real Estate Journal
Author: Lauren Baier Kim
October 11, 2006
Here's a look at what's new in real-estate markets across the U.S. from around the Web.
-
2007 Housing Market 'Won't Be A Standout'
Realty Times
Author: Broderick Perkins
November 15, 2006
It's not surprising reports of doom and gloom in the housing sector aren't welcomed by those who stake their living on the industry, but that isn't going to make it go quickly, quietly into history.
-
Condo boom just starting, experts say
Seattle PI
Author: Aubrey Cohen
November 6, 2006
Seattle has plenty of condominiums left to build and plenty of people coming to live in them, according to experts who spoke at a local housing forum Friday.
-
America's riskiest real estate
CNN Money
Author: Les Christie
August 4, 2005
Some of the nation's frothiest housing markets are at growing risk of price declines, according to the most recent survey from PMI Mortgage Insurance Corporation.
-
Seattle may escape housing bubble
Seattle PI
Author: Seattle PI
September 30, 2005
Home prices in some parts of the country might be primed for a decline, putting a drag on the nation's economy, but Seattle apparently could avoid the problem of a price bubble.
