Seattle economist Matthew Gardner, the Chief Economist for Windermere Real Estate, sees a housing market that's in transition as home prices start to drop while the number of home sales rises.
Gardner told Dave that looking at home prices year-over-year doesn’t tell the whole story.
“So what am I looking at? I think we’ve certainly seen a lot more homes for sale than we’ve seen in the last several years. Up almost 200% here in Puget Sound. However, if you go back to the last pre-COVID year when [there were] homes available for sale are actually still down by more than 30%.”Dave said he watched the 747 ceremonies last week at Boeing and was surprised at how upbeat executives were at the future of aerospace in the region. He wanted to know if Gardner saw it that way.
The real question, Gardner said, is where all the planes are going to be built. He explained that there are many compelling reasons they should be built here.Gardner said that economists’ prediction of the latest job market numbers was one of the biggest misses we’ve had in a long time.The unemployment rate fell from 3.5% to 3.4%, the lowest since 1969, the Labor Department said Friday.
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