Most experts agree that at the moment we are in a housing bubble. To give you some King County stats….in April of 2008 we had 16,400 listings, 2400 sales, making it a 15% absorption rate. In March of 2013 we had 3860 listings, 3740 sales, with a 97% absorption rate. The question on every buyer and sellers mind as well as realtors is will the bubble burst or slowly deflate. We need the shadow inventory to appear and interest rates to raise abit before we get to a balanced market of about 35% absorption. Our listing volume has declined 425% while the sales volume has increased by 56%.
If you are thinking of selling DO IT NOW!!!!
May 27, 2013