Hottest Housing Market for 12 Months
According to the Case-Shiller home-price index, as reported in an article on SeattleTimes.com, Seattle home prices have jumped 80 percent since the market bottomed out in 2012 and we’re now seeing the median home prices hit a level that is 20 percent higher than we experienced at the last market peak in 2007/2008. Our city has remained the hottest real estate market in the nation for 12 consecutive months, with Las Vegas leap frogging Portland for second place, and making Seattle’s dominance the 5th longest streak in the country since 2000 when Phoenix was experiencing substantial growth. Unlike the early 2000’s which lead to full market meltdown, our growth is somewhat an outlier, with the nation experiencing a 6.1% growth rate, compared to our 13.2%. Our strong job market, low housing inventory and increasing rents all continue to be driving factors in our market growth. Read the full article here >>
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