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December 2021 Housing Market Update for JBLM Region.

Video: Economic & Housing Forecast By Chief Economist Mathew Gardner


Pierce County Stats


Thurston County

See summery below


Headlines

Tight Supply of South Sound Homes Pushes Up Prices

GOVERNOR PROPOSES LEGISLATION TO ADDRESS WASHINGTON’S HOUSING CRISIS

What Everyone Wants To Know: Will Home Prices Decline in 2022?

If You Think the Housing Market Will Slow This Winter, Think Again

A Happy Tail: Pets and the Homebuying Process 

Two Reasons Why Waiting To Buy a Home Will Cost You


Summery

Overall for both Pierce and Thurston County as you can see in the charts, we started to see the tide level off and in some factors recede starting in July with a rise in  inventory  (note this is also seasonal time for inventory to peak in mid late summer months), but what is maintaining rather then climb is price per sq ft and homes are sitting on the market longer. We also saw annual appreciation slow down from roughly $110k in July to $roughly 80k (still incredible annual appreciation)

 But don’t let these numbers fool you. We still simply do not have enough supply to keep up with demand.
New homes are pivotal in relieving some of this demand and simply put, inflation is putting massive strain on builders with shortages of labor and labor costs, material prices soaring, building regulations and costs already too tight for our region.
There is concern with Covid, Inflation, jobs, to get a confident outlook on the 2022 season and one perdition is that sales will go down due to lack of inventory still and lack of supply issues plus lots of potential for feds to raise rates. this is  very grey area though.
Never the less it is still a sellers market and predictions are the lack of inventory and lack of new homes will cause this demand to continue for years to come, the silver lining is that buyers still have years of appreciation to gain.
 There are many reports and analysis from various sources such as economist, to experts in the industry saying this is going to be a very active spring and the bidding wars will return, days on market will go down, prices up, waived contingencies are also expected. One major factor to consider is the traditional seasonal trends and sales in the spring. During the 1st/2nd quarter the pot gets stirred up weather a buyers market or sellers market.
Below is a infographic of the nations expectations.

Buyers:

Remember interest rates are still all-time lows and appreciation is still high so don’t wait to continue for lower values rather look at the loss of equity you could gain over a year. If this was last year you would have $80,ooo equity and a lower interest rate which means lower payments. plus a lower priced home then today(or next year)

  • Be Patience
  • Be Persistence
  • See Potential in homes you would not often look at. Remember no house ever is a home until you make it one.
  • Compromise where you can.
  • Save money to use for earnest money, money on low appraisal, etc. for stronger offers.
  • Do not get discouraged.

Get started on the right track buying a home here


Sellers: 

You are still in the drivers seat, Demand is still very high, Even though days on market, prices, appreciation trajectory from the last 3 years have slowed since July till now. You will still likely make out this Spring.  You still want to have an experienced agent that can make sure you are not forfeiting 10’s of thousands of dollars just by listing your home on the MLS.

Before any 1 of the 10,000+ realtors can slap a listing together but for a smooth systematic, professional and profitable close without resistance you need your agent to be able to

  • Have Experience and expertise in changing markets.
  • Price properly by understand the data, new and sold listings on how to approach pricing.
  • Conduct robust marketing
  • Know and prove their numbers and client satisfaction.

Sell your home confidently Starting here


Contact us anytime with questions and or to assist in your real estate journey.

Cyrus Bonnet | Broker – Veteran | CEO & Founder of Soldiers Agents Inc. |  Windermere | JBLM – Pierce & Thurston County

www.SoldiersAgent.com

JBLM  Realtors

Est: 2011

Contact

253-766-5133

cyrusbonnet@windermere.com

 

Team

Jenna Huey

Client Relations Manager/Assistant

jennahuey@windermere.com

253-307-9936

Tiffani Tainer

File Manager/ Transaction Coordinator

Stats: Click to view

Closed Sales

Dollar Volume

 

Reviews: Click to view

Over 200 combined 5 star reviews

GoogleZillowFacebook, & BBB

 

Accomplishments:

Since 2011:

$100M+ Sold

$80,000+ Donated

 

Certifications & Awards:

PSA – Pricing Strategist Advisor

CSP – Certified New home Sales Professional

MRP – Military Relocation Professional

Military Designations -VAMRES, VAREP, MVHC, CMHS,

VArep – Tacoma Ch. President 2013-2015

Top Agent Award: Best of Trulia 2014

TPCAR Leadership Graduate 2013

TPCAR REALTOR Rookie of the Year 2011

TPCAR Sales Achievement Award 2012-2017

Certified Home Buying Instructor – WSHFC

 


This market repot and everything within it is information purposes only and not to be replied on for for your individual situation in full. Connect with us for a more individual consultation to determine what may be best for you. As with all market prediction reports the future is uncertain and no one can predict it. Soldiers Agents Inc is not reliable for any loss or damages regarding this report. Any real estate choices should not be relied on this alone and your should consult real estate professionals , and or attorneys for a full individual analysis of your situation.