the
home connection Angela Pasquale
Volume 11 | Issue 3
Account Manager 206-450-6011 apasquale@cwtitle.net
MARCH 2020
EYE ON THE MARKET
LOCAL HAPPENINGS For the next level of homes (often referred to as “move-up” homes) in the U.S., prices increased by 38 percent, and in the Seattle area by 64 percent.
The market has yet to reveal its true colors to start this new decade, but it is beginning to shake off the winter doldrums as spring nears. The big story to start the year has been the low interest rates, with global events playing a role in the rates falling week after week. Experts have calculated that low rates are boosting homebuying power by as much as 16 percent for some. This of course is good news for buyers, but especially for those buyers looking for entry-level homes. Recently released data from the AEI Housing Center shows that in the U.S., entry-level homes are worth on average 50 percent more than they were at the beginning of 2012. The same study shows that in the Seattle area, entry-level home prices have risen by 76 percent.
Strong job growth in our region continues to be the engine behind the strength of the real estate market. Puget Sound-area companies from many sectors are increasing hiring, announcing office expansions and launching new initiatives. Unemployment numbers remain low, with the latest for the Seattle-TacomaBellevue, Wash., statistical area falling to 2.7 percent at the end of 2019. Confidence in the area’s economy and job prospects attracts talent from all over the country, contributing to the ever-increasing number of buyers competing for homes. In an already competitive market, the high salaries commanded by these workers are a major factor in the upward trend of housing prices. As this election year takes shape, we anticipate that things said on the campaign trail will affect the housing market in ways we cannot yet predict. For now, let’s enjoy what looks to be another great year for real estate in the Puget Sound. Here’s to a great spring!!
Lake Sammamish Half 7 Marathon lakesammamishhalf.com Bike and Outdoor Show 7-8 Seattle seattlebikeshow.com Women Composers 8 Great Concert | mukilteoorchestra.org Cider Symposium 10 Northwest 2020 | nwcider.com City Comic Con 12-15 Emerald emeraldcitycomiccon.com Seafair Pirates Landing 13 of St. Patrick irishclub.org/irish-week/ Shamrock Run 14 Kirkland kirklandshamrockrun.com 14 Run or Wine 5K eventbrite.com Norwegian Heritage Day 14 and Bake Sale bothellsonsofnorway.org Patrick's Day at the Zoo 15 St. pdza.org Cherry Blossom Run 22 UW runsignup.com Island Half 22 Mercer mercerislandhalf.com 22 Seattle Bike Swap cascade.org
25 March for Penguins pdza.org Half Marathon 29 Everett everetthalf.com
2020 COLORS OF THE YEAR
Here are the trendy colors chosen by paint companies and color experts, and ideas for how to incorporate them into your home:
PANTONE Color: “Classic Blue” Buzz: Instills calm, confidence and connection Use on: bedroom walls, furniture, home accessories
BEHR Color: “Back to Nature” Buzz: Restorative and revitalizing, nature’s neutral Use on: big areas of interior walls, fireplace mantel or doorway
PPG Color: “Chinese Porcelain” Buzz: Balances out the nonstop nature of today’s fast-paced world Use on: backdrop wall drapes or pillows
BENJAMIN MOORE Color: “First Light” Buzz: Fresh alternative to white or beige, plays well with other colors
Use on: accent wall to lighten dark spaces, kitchen cabinets
SHERWINWILLIAMS Color: “Naval” Buzz: Imparts calmness and a spirit of hopefulness Use on: dining room accent wall, yoga room or backyard she-shed