What will the Sequim real estate market bring us in 2019? I’m sure most real estate agents are afraid to touch that lightening rod for fear of being proven wrong, but I think my clients and prospective clients would like to know what 24 years in the Sequim real estate market is suggesting to me now.
I’ve written several articles in the third quarter of 2018 analyzing the real estate market, the stock market, and the financial markets as they might effect the Sequim real estate market for retirees moving here. There are some dire warning signs of a pull-back in the markets and in real estate sales and prices. You can go back and catch some of those articles if you like.
Sequim Real Estate Market
I warned many months ago about the likelihood of home sales leveling off and slowing down around the U.S., and of course, that would effect home sales in Sequim, Washington. Anytime sales slow down elsewhere in the nation, the supply and demand formula eventually makes price adjustments in Sequim and Port Angeles.
Such leveling off has occurred exactly as I predicted, and we have been seeing the results in the local real estate market: Sales of homes has slowed down and prices of listed homes has seen price reductions that were not necessary only one year ago.
We just turned the corner into 2019, and there are so many unique historical events unfolding, it is hard to make predictions based on past experience and wisdom. We are in the midst of a political environment none of us have ever seen in our lifetimes. Not even close. Who knows how this battle is going to turn out between President Trump and the old guard (the Clintons, Bushes, Pelosi and Schumer, and the war machine). And then who knows how the International financial markets are going to survive 2019, and then there is our own Wall Street and the inverted yield curve on interest rates and debt that threatens our central banking system. The extreme volatility in the markets are signs of a reversal, or as some say, a balloon. And then we are on the verge of war in the middle east every day. Insanity seems to be the new order of the day! It will only take one big domino to start the collapse.
My point is that there are too many variables to predict 2019 and our real estate market with any reliability. Nevertheless, I will make a prediction as I promised. I believe it is highly likely we will see major events, including bad events around the world, and that the financial markets will pull back substantially in 2019. That will certainly impact real estate sales and prices all over the United States, including little Sequim, Washington. As Dennis Miller often says at the end of a rant, “Of course, I could be wrong.”
My humble advise to you, if you are a retiree planning to sell your home in California or elsewhere, and retire in Sequim, is to move forward with your plans post haste. I would not delay. The longer you wait, the more uncertain the future becomes. Get your home sold, especially if it is in California, while you still can, and get settled in Sequim. In my opinion, you’re running out of time.
If I’m wrong about my bad forebodings of 2019, fine, you will still be in good shape if you sell your home, get debt free, protect your capital with conservative investments, buy a beautiful retirement home in Sequim, and settle down in one of the safest places to live in America. Right? Just do it! Indecision now could be the worst decision of your lifetime.
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