Homebuyers in Seattle Area Will Have Challenges, Opportunities After COVID | Seattle RE Podcast

Buyers in the market to purchase real estate may hope that real estate prices will be cheaper and easier after the COVID19 pandemic has subsided, but many consumers should not expect to see lower prices, according to a forecast by a prominent online real estate firm.

Officials at Redfin said, however, that the rise in prices won't be as fast as in previous years.

“A couple of factors will cause home value growth to slow down," said Daryl Fairweather, the company's chief economist. "I expect mortgage rates to be higher, which will make buying a home more expensive.”

According to Redfin, the median price of a home in King County is currently about $687,000. Although that amount is not on the affordable end of the scale, the real estate company said it should be somewhat easier for buyers to find property.

Join your host Sean Reynolds, owner of Summit Properties NW and Reynolds & Kline Appraisal as he takes a look at this developing topic.

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