Seattle Housing Prices

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Presentation transcript:

Seattle Housing Prices Seattle home prices surge more than 10% as supply struggles to meet demand

Analyzing the Housing Market Three steps to analyzing changes in equilibrium Decide: the event shifts the supply curve, the demand curve, or both curves Decide: curve shifts to right or to left Use supply-and-demand diagram Compare initial and new equilibrium How the shift affects equilibrium price and quantity

Why the Increase? Supply side Demand Increasing Faster than Supply – reduces “inventory” In April we saw residential real estate inventory bump up from 1.1 months to 1.3. That 18% gain is nothing to dismiss, but it's one drop in a very large bucket that needs to be filled to give home buyers some breathing room. It's not enough to satiate the local population hoping to purchase a home, let alone the influx of tech workers moving to the Seattle region. Amazon, Facebook, Google, Nintendo, Microsoft and many others are in a talent-spending competition that rivals any tech hub nationally.

Why the Increase?

On the Demand Side San Francisco tech workers are hustling to move to Seattle $3k rents in SFO $90K + salaries