Significant Rise in Building Permits
The New York Times reports that building permits have reached “their highest level in nearly six years,” giving more confidence to a strengthening housing market. After a long cold winter, groundbreaking for homes largely driven by multi-family housing, soared to 13.2%! With building planned in areas such as The Bellevue Collection and in Northern neighborhoods of Downtown Seattle, we can see this growth right here in our neighborhoods. What's in store for the Seattle/Eastside area for 2015? I expect the trend to continue over the next year, but be could see a bit of a slow-down later when interest rates climb.