e{"id":37319,"date":"2022-12-08T19:25:48","date_gmt":"2022-12-08T19:25:48","guid":{"rendered":"https:\/\/www.productos-bancarios.com\/?p=37319"},"modified":"2022-12-08T19:25:48","modified_gmt":"2022-12-08T19:25:48","slug":"kitsap-housing-market-update-november-2022-how-did-we-get-here","status":"publish","type":"post","link":"https:\/\/www.productos-bancarios.com\/kitsap-housing-market-update-november-2022-how-did-we-get-here\/","title":{"rendered":"Kitsap Housing Market Update November 2022: How Did We Get Here?"},"content":{"rendered":"

Housing markets all over the world are slowing after over two years of fast-rising house prices. Some of the most popular neighborhoods in Kitsap County saw appreciation in the range of 20-30% from mid-2020 through mid-2022. This increase in prices was driven primarily due to out-of-state home buyers looking to relocate to the area for the incredible quality of life we experience here, but also by lack of inventory.<\/span><\/p>\n

Due to the rise in lumber prices and supply chain issues, home builders simply haven\u2019t been able to build new homes fast enough to meet demand. All the hungry buyers, including those who would normally look for a new construction home, then looked to buy an existing home.<\/span><\/p>\n

With all those hungry buyers fighting for limited inventory, the best properties received offers that were tens of thousands of dollars over the listing price. For a while there, buyers often felt like they had to be willing to throw their life savings and their firstborn child at a seller just to get their offer accepted.