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Thurston County housing prices fall for first time on this graph
Interesting graph citing "reliable... but not guaranteed" sources over at Sandy Nelson's real estate blog:
More from Sandy:
The real estate sales data for the last month of 2008 has recently been released, completing yet another year for the market statistics. While the median home prices for the entire NW MLS average an 11% drop, Thurston County only shows a small drop from the year before.
...
Is this dip just a healthy correction, or is it the beginning of a new downward trend?
I don't think anyone can tell for sure.
Will 2009 see an improvement in our local housing market? I don't think anyone can make predictions. Remember the big predictions of 2008 that prophesied Hillary as President and swore that we would never again see gas prices below $4.00?
Surprising things can happen. I, for one, am surprised to see interest rates below 5%. I didn't think that was possible, but here we are.
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Comments
if i had money, i might buy a house.
Housing Bubble Burst
The housing bubble burst has been delayed in this region, for some reason. Maybe it has to do with desirability of living here. I don't know a lot about this issue, but based on what I do know, I hold the position that I hope there isn't another bubble. I hope that housing prices and the housing market comes back down to Earth.
First time in recent history (Perspective is Everything)
I don't have the time series for Thurston County, but here are annual changes (in real, inflation-adjusted dollars) in home prices in King County since 1946. I imagine Thurston County might have experienced similar trends. These data were compiled from the Central Puget Sound Real Estate Research Report. Note the big drop during the Boeing Crunch in 1970.
More about the graph at here.