The bad news is that Bellingham home prices are down 7.5% in the last year. The good news is that Bellingham, WA home prices are still up 88% over the last 10 years, and still up 203% over the last 20 years. That makes the Real Estate appreciation in this area rank in the 97th percentile nationally!
Today’s current home prices are down 9.6% in Bellingham from the peak, which is really not that bad compared to many areas of the country. Prices are showing some signs of stabilizing, and many are predicting we will hit bottom in the 3rd or 4th quarter of this year, followed by modest appreciation or flat prices for the next couple of years. This is really just a symptom of the 10 year cycle in Real Estate. Being at or near the bottom of home prices, and with historically low interest rates, it is really a great time to be investing in Real Estate.
Home Price chart of Bellingam over the last 30 years.
