Edmonds Bowl Real Estate in Edmonds WA doing fine

OK, OK.... we're still in an economic funk. Housing is down; jobs are hard to find; gas prices are high.

But when it comes to real estate prices in the Edmonds WA Bowl area (and greater Puget Sound region as well), we have to keep a long view of what the recent "housing bubble" has done to prices. Certain markets are down. But some are healthy. I wrote a blog about the Edmonds WA real estate market and how healthy we actually are in the single family house sector, but not so much in the condo sector.

Most everyone has heard of the Case-Shiller Home Price Index which gets much publicity monthly. It tracks home prices both nationally and regionally compared to previous months or years. And it's been consistently indicating downward pricing pressures. But it's also important to consider long-term views on housing. The New York Times recently put together a chart showing housing prices for 20 major cities. The important perspective they make is this: yes, we're down over the past several years, but home prices are still up around 33% for the decade (since 2000).

In the above chart, Seattle's line is blue. The national average is black (the other lines are the other major cities around the U.S.) Click on the NY Times link above to play with the chart. But you'll note that the greater Seattle market didn't rise - or fall - as much as other markets nationally. It's the silver lining set against the dreary cloud-covered region we call home.

But it's also a reminder that, like all investments, long term toirtoises often out-perform the short term hares of the world. So don't fret if you know you're in it for the long haul because the Edmonds Bowl real estate in Edmonds WA is doing fine (generally). :)

Keep the chin up!

Casey
Edmonds, WA

ps. Wanna know where home prices are below 2000 levels? Detroit (-32.9%), Cleveland (-3.2%), Las Vegas (-2.8%), Atlanta (-1.6%).