Home prices across the Washington Housing Market are bout 20% overvalued heading into 2024. Could this be the year they crash?
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Particularly in metros like Seattle and Spokane. Where real estate prices have exploded over the last several years and significantly priced out locals.
Well – to see significantly declining home price across the Seattle real estate market in 2024, we will need to see more inventory hit the market. If that happens, there is a chance that values go down meaningfully.
Just like they did during the last housing crash from 2007-12. When values dropped by almost 30% across the state and by over 30% in Seattle.
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