Thursday, February 11, 2010

Forecast for Seattle Housing Market

from Money Magazine:
Rank: 48
Home price forecast: -4.8%
(one year, forecast through March 2010)
City stats
(2006) 2,496,619
Median family income:
(2008) $81,400
Home prices
Median home price:
(2008) $400,000
Affordability index:
(2008 median home price/family income) 4.9
Prices peaked in: 2007:Q2
Total climb during the boom:
(2000 to peak) 86.2%
Total decline so far:
(Peak through 2008) -11.1%
One-year change:
(Q4 2007 to Q4 2008) -9.7%
Price change :
(from peak to bottom) -17.9%
When they'll hit bottom: 2009:Q4
At bottom, prices will drop to levels last seen in: 2005:Q3
Notes: The 100 largest markets determined using 2006 Census population figures; metro areas are generally labeled by the largest city in that area. Price data are for single-family homes through the third quarter of 2008, the most recent data available. Forecast change from first quarter 2009 to first quarter 2010. Figures for Q42008 are estimated
Sources: Fiserv Lending Solutions, Moody's, Dutchess County Association of Realtors, Illinois Association of Realtors, Real Estate Center at Texas A&M University.

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