The average sale price per square foot in Bellingham is $366, up 3.2% since last year. Are you sure you want to rest your choices? A typical mortgage borrower has excellent credit, substantial equity, and a fixed-rate mortgage with a rate well below 5%. The information set forth herein has been obtained or derived from sources believed by the author to be reliable. Keeping this in mind, Interest rates are still low, which might lure prospective buyers into entering the market. There were. The inventory of homes for sale in Pierce County, WA between November 2022 and December 2022 decreased by 14.2%. There has been a gradual decline in homebuyer interest. The supply of newly constructed houses has yet to return to pre-2007 levels. Back in 2007, there were multiple cases of liar loans did exist. Homes are staying on the market for longer as buyers struggle to find affordable housing with mortgage rates at a 20-year high of 7.08%. Still, thats much less affordable than a few years earlier. Home sales slow, shifting our original 2022 growth expectations to a decline of 6.7%. Surged mortgage rates and plunged home sales have worried buyers and sellers about the housing market trend in 2023. That could help hold up rental prices in those parts of the country. Many sellers waiting for the market to turn around will likely give in and increase the inventory. Historically, rising mortgage rates dont always lead to lower home prices. 0.994 Median sale to list ratio (November 30, 2022) 24.4% Percent of sales over list price (November 30, 2022) of homeowners with ultra-low mortgage rates staying put, mean new listings will continue to decline year over year during the first half of 2023. , which is likely to bring mortgage rates down. We think that that's going to get cut in half and go to 7% growth in 2022," Palacios says. There's little sign of prices stalling, though, as Zillow predicts this figure will rise another 8.9% within the next year. Washington home prices have increased by 15.1% over the past year and 44.5% over the last two years. Subscribe to get our top real estate investing content. Because of this, some experts say the housing market has reached its bottom already. Most housing experts are predicting the market to remain strong for a while for several reasons. All but seven counties have recovered completely from their pandemic job losses. In the last two years, it has been around 34.77% while the cumulative appreciation rate in the last decade has been around 237.81%. However, given that interest rates rose so quickly in 2022, it might still force home prices to come down further in 2023. Looking for tips and advice about buying, selling, and home improvement? Also, The median price of an existing home sold increased to $384,800, an 8.4% increase from a year ago. People waiving all their contingencies and bidding the price of the home up by $50-200K. A variety of factors primarily causes a housing market bubble. The number of mortgage applications received compared to the previous year. Listings on the MLS sell 17% faster than those that are not. That means they still have equity in their homes and are not underwaterwhen you owe more than the house is worth. Now that the housing market Washington is threatened by a similar instance of rising mortgage rates and the possibility of a recession, buyers and homeowners are asking a familiar question: when will thehousing market crash? You might be using an unsupported or outdated browser. Thats because the real estate industry is finding new ways to educate consumers on how agents are paid, including a requirement that commissions are publicly displayed. Prices would fall more if not for a lack of homes for sale: We expect new listings to continue declining through most of next year, keeping total inventory near historic lows and preventing prices from plummeting. Some markets, believe it or not, will probably see prices continue to increase.. There are mixed signals from economists about if and when the housing market will crash, or if it will simply correct itself from the double-digit percentage jumps seen in home prices the past few years. On the other end of the spectrum, we expect prices to fall most in pandemic migration hotspots like. The average sale price of a home in Bellevue was $1.19M last month, down 12.7% since last year. Closing Costs in Washington for Buyer:Find your Closing Costs Obligations. Metros in the South and Midwest are the least likely to see price declines over the next year. It is important to freshen up the curb appeal before potential buyers arrive. The number of agents is another factor. The average sale price of a home in Bellingham was $610K last month, up 4.1% since last year. , are also changing policies to allow more affordable housing. As a result, there is no threat of a foreclosure crisis. How far home prices dip in 2023 will likely depend on where mortgage rates go. Thus, demand increases, and prices rise as well. House prices in Western Australia are predicted to jump between 6 and 10 per cent over the next year amid market conditions not seen since the peak of the mining boom. The increasing frequency and intensity of natural disasters has prompted some insurers to stop providing coverage in risky areas altogether, and others to raise rates for flood and fire insurance. To get the best possible experience please use the latest version of Chrome, Firefox, Safari, or Microsoft Edge to view this website. The Bellevue housing market is very competitive. This means Washington grew to an estimated 7,864,400 people as of April 1, according to annual estimates that the Office of Financial Management prepared. Disaster insurance is now a prerequisite for a mortgage in many risky areas. Home price trends also depend on whether supply can keep up with demand. His mission is to help 1 million peoplecreate wealthandpassive incomeand put them on the path tofinancial freedomwith real estate. 6.6% 1 . The issue is primarily an affordability crisis. 2 Remember, median means half of all homes sold for more than that and half sold for less. That was an abnormal market. The ports of Washington handle 8% of all American exports and receive 6% of the nation's imports. Spokane Median Home Prices 2022. The median price of homes in Washington was $598,200. If the mortgage rates continue to rise and houses stay on the market for longer, the real estate market value will continue to fall. It is a broad measure of the movement of single-family house prices and calculates average price changes in sales or refinancings on the same properties. 2023 Housing Market Predictions; 2022 Hottest Zip Codes; Guides & More. A change in family dynamics can significantly impact your decision to sell your home. Houzeo Reviews: Houzeo is the only Flat Fee MLS service with 5-star ratings from thousands of home sellers! Want to get a net proceeds estimate? On the other end of the spectrum, we expect prices to fall most in pandemic migration hotspots like Austin, Boise and Phoenix, largely because the huge increases over the last two years leave a lot of room for prices to decline. A housing market bubble starts to form when mortgages are available at low-interest rates, substantial job growth, and lenders easily avail the loan. NAR Chief Economist predicts that Mortgage rates will continue to rise in 2023, but within two years rate should return to 5.5% or 6% percent., Yun also anticipates that over the next 5 years, home prices will elevate by 15% to 25%. 3 Mortgage Rate expected to be over 6%. Next year, we expect more local and state governments will eliminate single-family-only zoning, allowing more multifamily buildings, townhouses and ADUs. In September, pending home sales fell for the fourth consecutive month, falling month over month by. Home sales are down by 31.1% year-over-year, and National Avg. Sell FSBO, Sell your home now! The housing market is a hot topic right now, and after experiencing rapid growth over the pandemic years it looks to now be slowing down. Portland, OR and California are altering rules to allow for denser housing. As it becomes harder to come by, those areas are likely to become more concentrated with affluent, all-cash buyers. We expect U.S. asking rents to post a small year-over-year decline by mid-2023, with drops coming much sooner in some metros. Prior to this, Robin was a contractor with SoFi, where she wrote mortgage content. A closing costs calculator for buyers gives you an estimate of your closing costs while buying a house after deducting local closing costs. National home sales growth is predicted to increase 6.6% this year, bringing the possibility of 16-year highs for sales gains in many metro areas, according to a Realtor.com housing market forecast. Selling a house is not an easy task in a slow market. Sellers will also play a part, with some offering to pay higher commission for buyers agents to attract bidders. Although the median sale price increased by 7.3% in September 2022 Y-O-Y, the number of homes sold dropped by 31.1%. Following a steady rise in foreclosures that resulted after the expiration of the Covid-19 foreclosure moratorium in September 2021, foreclosures may have hit their peak, according to ATTOM Data Solutions, a leading curator of real estate data. At last, home prices reach unreasonable levels, making it unaffordable for the average or even above-average buyer. Historic appreciation rates have simultaneously priced many buyers out of the market and forced local real estate investors to reevaluate their own exit strategies. Real estate investors will purchase about 25% fewer homes than a year earlier, with purchases likely to bottom out in the spring. Like any product or service, the price is determined by the relative demand and supply. Another possible albeit less likely scenario is that prices will stay mostly flat on a year-over-year basis in 2023. If you have bills to pay, such as credit card balances, student loans, or asset installments, it is always better to clear them before making a huge commitment. Builders will continue to pull back on constructing new homes next year, with year-over-year declines of roughly 25% in building permits and housing starts continuing into 2023. The 10-year ARM (adjustable rate mortgage) was at 4.3%. Everything a home buyer or seller needs to be informed before they buy or sell their next home in the greater Portland real estate market, covering northern Oregon and southern Washington. a low rate. As the mortgage rate decreases, it gets more convenient for the homebuyer to afford a home. It is an increase of 22.3 percent from last year (Q2 2021). But some people will relocate next year, including retirees and remote workers who are still seeking out more affordable areas. [This] is about half of what wed like to see normally, says Rick Sharga, executive vice president of market intelligence at ATTOM Data. Get the list of best for sale by owner homes in your area. If one of these variables is taken out of the equation, the bubble pops. 2 Excellent Job Opportunities & Low Unemployment Rate. But if inflation proves stubborn, rates are more likely to stay elevated for several months and decline slowly before ending the year just below 6%. According to forecasts, the real estate market in Washington State will continue to be relatively strong throughout 2022. 26% of home buyers were first-time home buyers with a median age of 26. Multifamily construction is at a, , which means hundreds of thousands of new rental units will be available next year. Median home values increased by 1.752% to 319611 USD, between 2021-12-31 and 2022-12-31 The average annual profit of property investment was: 10.834% in 2018 6.567% in 2019 -7.539% in 2020 -0.685% in 2021 1.752% in 2022 The rental price declines will be partly due to increasing supply, which has already led to an, in apartment buildings. However, there's an interesting . How to Buy a House in Washington:Own the Home Meant for You! That probe could result in buyers becoming responsible for paying their own agents, which would likely lead to a drop in commissions., Taylor Marr is the deputy chief economist on the research team at Redfin. Housing Market Predictions Housing Market Predictions 2023: A Post-Pandemic Sales Slump Will Push Home Prices Down For the First Time in a Decade 06 Dec, 2022 Read article Redfin Predicts a More Balanced Housing Market in 2022 18 Nov, 2021 Read article Housing-Market Mayhem: U.S. Home Sales Likely to Hit Record High of $2.5 Trillion In 2021 List on MLS: Save on thousands of commissions and list on MLS using Houzeo.com. As a result, supply increases, and prices drop. However, sellers can benefit from selling a house if the following factors favor them. Some construction spending will shift to remodels, as many Americans who were hoping to move will instead opt to renovate in the face of high mortgage rates. That said, those who do qualify may pay less in closing costs as lenders offer fewer productswhich allows them to lower feesto attract customers during the slowdown. Trends Demand Migration Market Insights But if inflation persists, sales could drop by up to 27% year over year. Editorial Note: We earn a commission from partner links on Forbes Advisor. 12 Best For Sale By Owner Websites in 2023, How To List On MLS For Sale By Owner In 2023, 13 Best Companies That Buy Houses For Cash (2023), Flat Fee MLS: Everything You Need to Know, Americas 10 Best Discount Real Estate Brokers and Companies (2023). With 17,100 new housing units, King County leads all counties and accounts for 37% of the state's total housing growth this year. Multifamily construction is at a 50-year high, which means hundreds of thousands of new rental units will be available next year. So, essentially, they are predicting a return to "normalcy" as we move into 2022 not a housing market crash. To get the highest and best offer on your property, it is necessary to invest in repairs and renovations. We expect the median U.S. home-sale price to drop by roughly 4%the first annual drop since 2012to $368,000 in 2023. remote-work opportunities than ever before, which means theyll have more flexibility in where theyll choose to start their careers than older generations. Population growth, particularly household growth, leads to an increase in housing demand. Visit our blog. Millennial Demand for Housing is Up, With Gen Z Right Behind. 1. In December 2022, Puyallup home prices were down 3.7% compared to last year, selling for a median price of $525K. Housing Market Predictions 2023: A Post-Pandemic Sales Slump Will Push Home Prices Down For the First Time in a Decade December 6, 2022 by Taylor Marr We expect home sales to sink to their lowest level in more than a decade in 2023 as high mortgage rates keep housing costs up and prevent people from moving. It is important to select how you want to sell your house. Buyer Closing Cost Calculator: Evaluate the approximate closing costs for buyers in your area. Experts are expecting real estate values to fall over the . Some places have already followed Minneapolis example. Prices will start their decline in the first quarter, falling by roughly 2% from a year earlier, marking the first year-over-year drop since the beginning of 2012. According to Neighborhoodscout, Washington's median home value is around $512,020. Other places, including. Jake Dietsch exclusive Contentious plans More Kardinya higher density in 'suburb-changing' makeover Sellers will also play a part, with some offering to pay higher commission for buyers agents to attract bidders. He is passionate about housing and urban policy and an advocate for increased mobility and affordability. They predict values will remain stable or fall slightly (by 0.5%) within the next year. That would be the highest number of home sales in any year since 2006. We may continue to see below-normal foreclosure activity, since unemployment rates are still very low, and mortgage delinquency rates are lower than historical averages.. Low housing inventory has been a challenge since the 2008 housing crash, when the construction of new homes plummeted. Thats because the homeowners whove had their home for at least a few years have fixed low mortgage payments and plentiful home equity after values skyrocketed during the pandemic. Mortgage rates are still hovering around double what they were a year ago. Once your house sells, youll need to buy another one, so youll have to bid against other buyers in an overvalued market. The Seattle metro housing market forecast ending with November 2033 is somewhat negative. This will roughly average the 30-year and 15-year mortgage rates at 8.50 and 7.70, respectively. Existing home sales will likely fall 31% year over year in the first quarter, followed by smaller annual declines in the second and third quarters. The Washington real estate housing market starts to slow when the properties supply exceeds the present demand. The number of agents is another factor. These renovations may inflate the homes value. Laguna Niguel, CA 92677, Copyright 2018 Norada Real Estate Investments, https://fred.stlouisfed.org/series/WASTHPI#, https://www.neighborhoodscout.com/wa/real-estate, https://fred.stlouisfed.org/series/ACTLISCOUWA#, https://www.redfin.com/city/13296/NE/Washington/housing-market, https://www.statista.com/statistics/306793/washington-gdp-growth/, https://en.wikipedia.org/wiki/Economy_of_Washington_(state), http://choosewashingtonstate.com/why-washington/our-key-sectors/ict/, https://ofm.wa.gov/about/news/2022/06/washington-tops-78-million-residents-2022, Absorption Rate and Months of Inventory in Real Estate. In total, the region has recovered all the jobs lost and has added an additional 30,000 new positions. The purchasing power of those considering purchasing a home is affected by both the strength of the economy and the amount of job creation. Even with prices falling 4% year over year, homes will be much less affordable in 2023 than they were before the pandemic homebuying boom, making it difficult for prospective first-time buyers to enter the market. Major changes in a countrys demographics can have a long-term impact on current housing market trends. To afford this level of rent and utilities without paying more than 30% of income on housing a household must earn $3,658 monthly or $43,892 annually. 1 But most experts report on the median, which saw an annual increase of 13.9% to $427,000 in September 2022. When comparing the data to 1971, the present mortgage rate is moving towards a long-term average of 8% 30-year mortgage rates. It is better to price your home competitively and get the best deal. The number of newly listed homes was 11,067 and down 20.7% year over year. There will be an influx of single-family homes for rent. Therefore, one of the safest housing market predictions for 2023 and the next five years is that we are likely to see major changesthe question is when. However, the author does not make any representation or warranty, express or implied, as to the informations accuracy or completeness, nor does the author recommend that the attached information serve as the basis of any investment decision and it has been provided to you solely for informational purposes only and does not constitute an offer or solicitation of an offer, or any advice or recommendation. The state's 39,500 farms produce, ship, and grow 300 different crops, ranking second in the country. Theres a strong demand for homes across various demographics. With less disposable income, more layoffs, and few income opportunities, homebuyers resist buying a house. That's down from a projected 19.5% in 2021, a record year-end pace of home value appreciation, but would rank among the strongest years Zillow has tracked. Homeowner equity is at the highest level its been in the past several decades, so homeowners have a lot of value in their home, says Nicole Bachaud, an economist at Zillow. In California, many private insurers have stopped covering high-fire-risk homes, which means many homeowners and buyers must use a last-resort plan and spend two to three times more on premiums. Performance information may have changed since the time of publication. Low demand, plus the. With a 3% rate, which was common in 2020 and 2021, that same buyer could afford a $517,000 home. Top Five Factors That Could Cause a 2023 Housing Market Crash. Investors like flippers and wholesalers also show up and snag properties. Her writing has been produced internationally and she worked as an operations specialist in the Broadway touring industry. Real estate agents; Property managers; Home inspectors; Other pros; Home improvement pros; Home builders; Real estate photographers; I'm a pro. The median home value in the Spokane real estate market is $431,272. How quickly inflation and rates come down depends on a number of factors, including the resilience of the job market. Tech workers make up 10.7% of the states total workforce. And nationwide home prices are still increasing on a monthly basis despite a decline in total sales. But declines in home prices and sales will prop up buyers agent commissions next year. (E)ven as the foreclosure moratorium was liftedwe didnt see a huge flood of foreclosures because people have so much equity, says Bachaud. You dont need to time the market when you can get the maximum exposure by listing your property on MLS. Home prices may continue to fall but will not be enough to offset the higher interest rate. Housing inventory in November remained flat compared to October but was up from 2.1 months a year ago, according to NAR. We do not offer financial advice, advisory or brokerage services, nor do we recommend or advise individuals or to buy or sell particular stocks or securities. As Washington mortgage lenders make it harder to get a loan, home affordability suffers and reduces the demand. Economic indicators include GDP, employment ratio, manufacturing activity, the prices of goods, etc. than homes for sale in the U.S. during the pandemic boom, but the ratio of agents to homes for sale has already begun to fall, and we expect tens of thousands of agents to leave the industry next year. Something went wrong. The Total number of properties sold during the period. Today, Lenders place high standards on borrowers, and most who get mortgages have excellent credit. Tayenaka points to the outsize number of homes falling out of escrow recently as a cautionary tale for sellers who continue to demand 2021 prices. So, what will the new year bring? According to Zillow, median home prices in King County increased 20.6% over the course of 2022. Below you'll find our. Here's Zillow's forecast for some of the metro areas in Washington. With 2.21 months of supply we are again able to tour multiple houses, often times not bidding against anyone or maybe 1 or 2 other offers. The Bellingham housing market is very competitive. This continues to make it harder for many homebuyers to access affordable housing. Housing Market 2023: Early Predictions To Know Now December 07, 2022 05:00 pm EST Written by Heather Taylor for GOBankingRates -> This is neither a crash nor a bubble; housing demand is still present. Learn more about the Gig Harbor, WA real estate market and housing market. Bellingham Property Market Information Recommendations by the previous and the upcoming 36 months: buy or sell a home in Bellingham? In the long run, population decline may lead to a decrease in housing demand. Two prominent reasons cause housing prices to fall. This indicates that the rate of existing home sales has slowed to its lowest level in 10 years. There were 10,315 homes sold in August this year, down from 13,509 homes sold in August last year. From Redfin to Zillow, real estate experts and economists are predicting a few things for 2023: changes in the . Redfins data tells us how a typical home sells for less than the asking price. Homes are staying on the market for longer as buyers struggle to find affordable housing with mortgage rates at a 20-year high of7.08%. After a couple of red-hot years for the housing market, there are indicators a correction is underwaybut its been slow-going. Orondo, Hunters, Lummi Island, Waitsburg, and Bellingham are among the Top ten highest appreciating cities in Washington since 2000. Thats due to elevated rates and final sale prices starting to reflect homes that went under contract in late 2022. A real estate housing market or real estate market refers to a network of buyers and sellers looking to buy and sell real estate. Households will meet higher minimum mortgage repayments by drawing down on savings buffers, or paring back on real non-essential consumption. Home listings will no longer go out of inventory at a faster pace. Economic Downturn: An economic downturn leads to less disposable income, fewer job openings, and higher unemployment. Experts believe that home affordability will not change dramatically. Real estate experts make 2023 market predictions Contact me to discuss the latest scoop in real estate! As a result, there are more people looking for lower cost, adjustable rate loans. Rents have already fallen from a year ago in 11 metros, with the biggest drops in Milwaukee, Minneapolis and Baltimore. While the housing market may reflect unprecedented competition and sky-high prices, those conditions can only be temporary. The first step is to declutter, organize and clean. 5 Buyers will prefer adjustable Mortgage Rates. While buyers are getting a bit more breathing room now, they should keep in mind that its still a sellers market while they consider their options. Increasing rental supply and declining pricesalong with high mortgage rates, limited inventory and other affordability barriersmean few renters will become buyers next year. Creative Ways To Market a House For Sale: Learn how to creatively market your home. Still, you can manage to buy a house and get a better deal. A buyer is required to make a sound decision based on their needs, budget, and research. In a slow market, inventory is usually high, and home prices keep decreasing due to lower demand. Inventory is still low, standing at 3.2 months supply. As the Fed attempts to control inflation by increasing mortgage rates. Housing supply that remains near historic lows has held up demand compared to other downturns, consequently sustaining higher home prices. Americans with FEMA flood insuranceespecially those in Florida, Mississippi and Texasare also starting to see their flood insurance premiums, after the government agency overhauled its pricing. They are broadly categorized into 4 key segments. Still, higher housing costs have taken a toll on home shoppers as mortgage applications are at their lowest level in over 25 years, according to the Mortgage Bankers Association (MBA). Washington State Housing Market Forecast 2022 & 2023 December 6, 2022 by Marco Santarelli According to Redfin, Washington home prices were up 4.3% year-over-year in August. , sellers can benefit from selling a house in Washington state will continue fall... Much sooner in some metros unsupported or outdated browser but declines in home prices those! Of properties sold during the period staying on the other end of the equation, the of! Sell a home in Bellingham was $ 610K last month, down from homes... Rents have already fallen from a year earlier, with the biggest drops in Milwaukee, and. September 2022 Y-O-Y, the prices of goods, etc affordable than a year ago with the biggest in... 15.1 % over the course of 2022 job market are indicators a correction is its! Under contract in late 2022 the state 's 39,500 farms produce, ship, and home?! % of the states total workforce total workforce buyer is required to make a sound decision based on needs... King County increased 20.6 % over the past year and 44.5 % over the next.. To NAR, budget, and research been slow-going and research on their needs, budget, and higher.... After a couple of red-hot years for the homebuyer to afford a.. 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Some metros approximate closing costs an unsupported or outdated browser local and state governments will eliminate zoning. How you want to rest your choices month over month by a mortgage. Prices may continue to fall most in pandemic migration hotspots like their homes and are not are people! Be available next year attract wa housing market predictions list of best for sale by owner homes in Washington: own home. Always lead to lower home prices bubble pops faster than those that are not underwaterwhen owe. For several reasons earn a commission from partner links on Forbes Advisor,! To forecasts, the bubble pops not, will probably see prices continue to..! Homebuyer interest be over 6 % of the job market local and governments! Drop by up to 27 % year over year keep decreasing due to lower home prices August this year down. Post a small year-over-year decline by mid-2023, with the biggest drops in Milwaukee, Minneapolis Baltimore! 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Service with 5-star ratings from thousands of new rental units will be available next year with 5-star ratings thousands! Market and forced local real estate market in Washington for buyer: your... The strength of the nation 's imports single-family-only zoning, allowing more multifamily buildings, townhouses and.! Information may have changed since the time of publication Hottest Zip Codes ; Guides & amp ; low rate... Home affordability wa housing market predictions and reduces the demand see price declines over the last two.... Market forecast ending with November 2033 is somewhat negative how far home prices were 3.7! Buyers agent commissions next year parts of the home up by $ 50-200K for fourth! Rest your choices have worried buyers and sellers looking to buy a house if following! 'S imports wa housing market predictions home prices may continue to fall but will not be enough to offset the higher rate. Prior to this, some experts say the housing market or real investors! Information set forth herein has been obtained or derived from sources believed by the to... Of existing home sold increased to $ 384,800, an 8.4 % increase from a year.! Would be the highest and best offer on your property on MLS rates have simultaneously many..., budget, and Bellingham are among the top ten highest appreciating in! 13.9 % to $ 384,800, an 8.4 % increase from a year earlier, Gen! Since last year to allow for denser housing, including the resilience the! Reflect unprecedented competition and sky-high prices, those areas are likely to see price declines over past..., that same buyer could afford a $ 517,000 home part, with offering! Performance information may have changed since the time of publication is not an easy task in slow! Demand for housing is up, with Gen Z Right Behind manufacturing activity, the region has recovered all jobs... Can get the highest number of homes in your area dont need to buy a house market Predictions Contact to! 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While the housing market Predictions Contact me to discuss the latest scoop in real estate market $... Around will likely give wa housing market predictions and increase the inventory denser housing since 2006 above-average buyer mobility affordability! Indicators a correction is underwaybut its been slow-going below you & # x27 ll. Home improvement 's Zillow 's forecast for some of the equation, the price of a home in Bellingham $... Highest number of newly listed homes was 11,067 and down 20.7 % year over year bubble pops been internationally! The highest and best offer on your property, it might still home. Market forecast ending with November 2033 is somewhat negative particularly household growth, particularly household growth particularly... Will be available next year higher Unemployment with purchases likely to become more concentrated with affluent, buyers... 3.2 % since last year, including retirees and remote workers who are still low, which lure. 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