Spring is in the air in the beautiful PNW! The Puget Sound continues to grow and the technology sector is a big part of what’s fueling the region. New construction (of both homes and rentals) struggles to meet the rate of growth, keeping inventory tight. Many in the tech sector who are new to the area are looking at condos as their initial investment. As soon as condo projects are finished, they are being snapped up, especially those units located close to job centers.
The unreasonably warm winter has meant an increase in open house traffic from buyers looking to get a jump on the market. Buyers will need to have all of their finances in good shape and a pre-approved mortgage to give them the edge to get the house they want.
Sellers looking to both sell and then buy a home may find that putting their home on the market in the late Winter or early Spring is a great strategy. There are many eager and qualified buyers looking to take advantage of the current low interest rates. Upon closing sellers will still have plenty of time left in the Spring and Summer to look for the home that meets their needs.
Here’s to a great Spring!