What are your thoughts on the Seattle housing market next spring?

[Sara Simpson]

Hello!

I have a SFH rental in Seattle that I would like to sell next Spring when the current tenant's lease ends. Any thoughts on what you think the market will be doing? I'm ok with a slight price correction from today's prices but if the market tanks, I would probably continue to rent it. I also could refinance and lower my payment almost $200/month (which is significant to me) but I'm not sure it's worth it if I plan to sell in the Spring. Then again, I might end up holding it longer than I expect.

I know no one has a crystal ball but I'm curious what people's thoughts are.

[Aaron Nelson]

Hi @Sara Simpson - I realize you asked about Single family homes (which follow slight different demographics and trends) but for what it is worth, CBRE recently put out Q2 2020 statistics on Total Investment Volume ($) Year Over Year for multifamily properties in the Top 20 US markets. Seattle was one of 5 markets where investment volume INCREASED in Q2 2020 compared to Q2 2019. Of course lots can change in a year, but it's still a good sign and shows the resilience of the Seattle real estate market.