While the San Juan Islands and Skagit County are outside of the greater Seattle market we are definitely impacted by this markets activity. Many recent retirees and telecommuters are moving to Anacortes from the Seattle market and demand for new construction remains strong according to local builders. Orcas, San Juan/Friday Harbor, Lopez, Shaw and Guemes islands are more seasonal markets for second home buyers and investors. It has historically been the case that the San Juan Islands lag behind the Seattle market by 1-2 years.
The hottest housing market in the country is up 13% and now may be headed for a crash
The hottest housing market in the country is up 13% and now may be headed for a crash
Home prices in Washington state rose nearly 4% in the first quarter, the most in the nation, and more than 13% from one year ago. Experts say the market is now vulnerable to rising interest rates and job losses due to tariffs.
Source: www.cnbc.com/2018/07/09/the-hottest-housing-market-in-the-country-may-be-headed-for-a-crash.html