Prospera Real Estate's Owner in the Seattle Times' Real Estate Update
Though whittled down from the full, original quote complete with supporting data, Prospera Real Estate's Owner, Robert Wasser, appeared in the March 7, 2018 Seattle Times in their local real estate update.
The whittled down version of the quote that appears in the newspaper simply says to expect prices to continue to rise until at least summer. You can check out the full article here.
To add back in the substance (data) to it all, here is the original quote:
“As was the case the last two years, home values spiked in February thanks to a cyclical low point in supply. The February median selling price for single family homes in King County rose 3.4% compared to January, which comes on the heels of a 7.6% increase last year and a 4.9% increase in 2016. Prices are now back in the area they peaked last summer, and cyclically speaking, are headed for additional increases until summer arrives.”
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As it relates to heading towards additional prices increases, the "cyclically speaking" part is a reference to the previous few years, when the median closed sale price rose between February and June for single family homes in King County, before flattening out and generally dropping a bit through the end of the year thereafter. The chart below paints the picture pretty plainly.
*Statistics and analysis based on data provided by Northwest Multiple Listing Service