Housing Complex

Washington Real Estate Market One of the “Most Likely to Rebound”

This shouldn't come as too much of a surprise, of course. But, according to Forbes.com, the real estate markets in Seattle, D.C., San Francisco, New York City, and Los Angeles are likely to improve faster than those in a bunch of suffering midwestern cities, namely Columbus and Cleveland Ohio, and Milwaukee Wisc.

The Urban Land Institute recently asked 700 real estate professionals to name the best (and worst) places to invest in commercial real estate in the coming year. Those surveyed included private developers, Realtors and Real Estate Investment Trust executives. Their answers also apply to the residential market, since the single-family-home sector typically follows the economy. As wages go up and there are more jobs, more people can buy homes, pushing prices up.

In this survey, Seattle proved to be the most resilient:

Seattle is "a diversified market, has a good base of business and is becoming a 24-hour city," says Stephen Blank, senior resident fellow, finance, of the Urban Land Institute. "It's going to be in a good position to come back."

Although the city is suffering from the loss of Washington Mutual and the downsizing of Starbucks, Boeing and Microsoft are still relatively strong. Apartment vacancies are low and there aren't too many new buildings going up, meaning the market won't be oversupplied. The same is true in the retail space.

  • http://tucson-fha-loans.com Paul Dunn

    Having worked in the Seattle mortgage market for years it is easy to understand how that area stays at the top of this list. I'm curious where my new home, Tucson AZ, would fall???

  • http://www.eastsiderealestatebuzz.com Debra Sinick


    As a Realtor on Seattle's Eastside with Windermere Real Estate, I agree with you, Seattle will come back faster than most. We are experiencing a lot of bumps in the road right now, but, hopefully, this too shall pass.

    Good luck in Tucson.

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