DOWN for the third straight month, a whopping 28% drop in September 2010 over the same dismal month in the previous year.
Why do you ask? King County has a lower than national average unemployment rate of 8.6% and a solid and diverse economy. If money isn't a large factor (it sure is a small one) than why the dramatic drop in home sales and the stagnation in the market?
To paraphrase James Carville, it's the livability stupid. People are SICK of the street crime, vagrancy, drug dealing, prostitution, and assorted indignities of life in Seattle. Our public parks in Seattle have become campgrounds and toilets for alcoholics and drug addicts, and the alleys of our streets are bathrooms and bedrooms for junkies and prostitutes. Your car is not safe to park on the street, and you can't walk two blocks without being intercepted by a panhandler. The center of prostitution for all of Washington State is a strip of streets called "The Track" that is literally at the base of Seattle's Space Needle where you can see 15-year old girls turning tricks to feed drug habits.
Want to pay $500,000 for a condo to live here? Or $800,000 for a four bedroom house?
There are so many homeless men and women living in downtown Seattle that a serial rapist ONLY TARGETING HOMELESS WOMEN was sentenced today. He was raping women in the Soda neighborhood of Seattle which is exactly where the Seattle Mariners and Seattle Seahawks have their stadiums. He is known to have attacked four women but probably many more.
The City of Seattle needs to WAKE UP and start addressing REAL citizen concerns and not politically correct nonsense like bike boxes and green energy initiatives.
What makes infill development and gentrification work are low crime rates.
What you have in Seattle and the surrounding communities is growing crime and urban decay.
People are increasingly sick of it and just don't want to buy homes in such a place. It's that simple.