Forbes magazine came out with an article about the next real estate trouble spots, putting Bellingham No.5 on the list of places with the most significant price declines. It estimates Bellingham home prices will drop 9 percent in the coming year. Here’s the (link). (Thanks to several readers for drawing my attention to it).
The survey uses a variety of data to come up with its forecast. The article noted many communities in the Pacific Northwest landed on the list because it has some of the strictest land planning policies in the country, which has curbed sprawl but also propped up prices. So far, the study is on the mark: Bellingham saw an uptick in sales, but declining prices, in the first quarter.