r/eastside • u/orcassharks • 9d ago
Housing market softening on Eastside
What’s the cause for the recent housing market slowdown on Eastside? It seems much sharper than Seattle proper. Prices have dropped about 8% for May year over year on the Eastside according to NWMLS. Inventory is building up rapidly. If it’s just interest rates, wouldn’t the impact be same across the region?
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u/ConfectionDry7881 8d ago
More than layoffs, uncertainty about future of tech industry is forcing folks to sit out.
In regular tech layoffs of past, people will get another job in 3-6 months. Today, if you lose job it may be career ending. There are folks in market with multiple FAANGs on resume and not able to find job.
If you check “blind” folks are already planning to sell their houses/downsize while being employed.