December ended a strong year in Puget Sound real estate. 2014 was the fourth best year of the last 15, totaling 77,906 sales, Central Puget Sound. “December was one of the best Decembers on record,” observed J. Lennox Scott of John L. Scott Real Estate. “Prices, interest rates and rents will continue to rise,” stated Mike Gain of Berkshire Hathaway HomeServices.
I asked Pops how he thought the market would hold up in 2015. His answer: “How the hell would I know.” I feel a bit the same way, though I’m more optimistic. Employment numbers are good throughout our state and our economy is doing better than most places in the country. If the Millennials/Gen Y buyers begin to appear (which I believe they will if condos and townhomes become more plentiful), 2015 looks to shape up better than 2014.