Hi, I’m Sean Reynolds, the owner of Summit Properties Northwest and Reynolds & Kline Appraisal. This is your market in the minute video for the month of February, 2018. Everything you need to know about the Puget Sound real estate market in one minute.
So interest rates are moving up and inventory is still way down. So what does that mean? And it equated to pending sales were off just a little bit also, but I think that’s in relationship to just how few homes there are on the market and a lot of experts were thinking that the tax law changes in 2018 might impact the real estate market. That has not happened. It’s been an issue of just so little inventory that pricing has gone through the roof, particularly here in the Seattle area. So even with the uptick in interest rates and the tax law changes, our real estate market hasn’t felt any of that impact and that’s basically because we’ve still got so many tech jobs coming in and jobs in general that our marketplace, any, any job that comes in basically outstrips whatever housing supply we have and we’re continually on a lack of inventory for the overall marketplace. And with the recent daylight savings time change, we typically see a flurry of new listings.
We’re hoping to see that this year because we can certainly use some more inventory in our marketplace. Once again, I’m Sean Reynolds from Summit Properties Northwest and Reynolds & Kline Appraisal. I appreciate you taking the time to watch the video. Love to have you like, subscribe, or make comments, particularly ideas for future videos. And as the mid April tax deadline comes due here pretty quickly, I’d love to have you check out a video that we recently completed with Dan Chapman of Fairway Independent Mortgage, that kind of outlines the broad strokes of the 2018 tax changes as it applies to your real estate and also to your income tax position. Again, thank you for the watching the video.
February 2018 Market In a Minute Video! If you watch one video this month regarding real estate; watch this one! Everything you need to know about the Puget Sound Real Estate Market In One Minute!