The future of the Sequim real estate market is bright, despite what is happening across the country now. This survey from Trulia takes the heartbeat of Americans, their plans to buy a home, where they want to invest their money, and it is promising. Be sure to enlarge this slideshow (lower right side) so you can read the little print in the slides.
The Sequim Real Estate Market in Context
Sequim Real Estate Market
Research showed that 80 percent of respondents surveyed were planning at least one additional home purchase in their lifetime. Granted, that’s a long way into the future of the Sequim real estate market or any market, but clearly everyone wants to own a home or a second home. While all of these buyers aren’t actively searching, this is still positive news. Around 65 percent of respondents from age 18 to 34 said home ownership is still part of their American dream.
Survey results showed, across the board the suburban McMansion trend of the housing boom is dying. Only 6 percent of those surveyed said their ideal home size is more than 3,200 square feet, a 36.6 percent decrease from 9 percent in 2010. In addition, both Baby Boomers (55+) and responders in the 18 to 34 age category expressed their primary interest in urban environments for different reasons. The older group wants to be closer to shops and restaurants and the younger generation is interested in shorter commutes. Source: The American Dream Lives On
Sequim Real Estate Market
I’ve written about the future of the Sequim real estate market in earlier articles, including Are Houses Getting Smaller. I wrote:
Are houses getting smaller [in the Sequim real estate market]? There have been many articles written about how retirees are building smaller, more energy efficient homes. Of course, “energy efficient” and “green” does not necessarily mean smaller, but less square footage does facilitate the two. Another factor that has been an inducement to build smaller homes is the increasing cost of land development and home construction. With higher price tags, mortgage payments have grown dramatically, and the mortgage debacle and record foreclosures are more than a shot across the bow for retirees.
With all the retirees moving to Sequim, I believe the future of the Sequim real estate market is much brighter than 95% of the rest of the country.
Last Updated on September 2, 2019 by Chuck Marunde
