Good news for sellers in the Seattle area: home-price gains continue to strengthen in our active pre-spring market.
Home prices in the Seattle metro area jumped 1.2 percent in December from the previous month, one of the strongest gains in the nation, according to the S&P/Case-Shiller 20-city index released Tuesday.
The average price of existing single-family homes sold in King, Snohomish and Pierce counties was up 1.2 percent from November. That's more than double November's gain of 0.5 percent over the previous month.
Nationally, prices gained 0.9 percent over the month in December, slightly higher than the 0.8 percent gain seen in November. The 20-city index posted a 4.5 percent annual gain.
What does all this growth mean for first-time buyers? Widespread and rapid growth in rents, combined with stagnant wages, are keeping many would-be buyers stuck in rental housing.
We know that this year is the perfect year for renters to become first-time homebuyers. In December, many renters were unable to make the jump to homeownership. This should change over the course of this year.
Read the full article from The Seattle Times.
Are you ready to buy a home and qualify for the VA loan? Let me help you out! As a local real estate broker in Bellevue, WA and a Veteran of foreign wars, I am committed to helping you find the home you deserve through the VA loan.