The Seattle area’s real estate market has been making headlines for several months with our record low inventory, rising home prices, population growth, and interest from international buyers. We all anticipated that 2016 was going to be big. Now it looks like we may be one of the hottest markets of 2017, too.
As economists are sharing their predictions of housing markets in metro areas around the country, the general verdict we are seeing is big news for Seattle real estate. The Home Buying Institute reviewed a study from Veros Real Estate Solutions, a California-based company specializing in property valuations and analytics, and found that the “Seattle-Tacoma-Bellevue metropolitan area could experience the biggest home-price gains from June 2016 to June 2017.” They are estimating appreciation to be around 11.2 percent in that time frame.
Seattle’s home prices are already high. We have been watching them rise to new heights over the last several months. For positive economic reasons, it seems like that is a trend we can continue to see through next year. Our population growth is making headlines and our booming tech industry is at the center of this movement.
Windermere Real Estate’s own Matthew Gardner says, “Home prices in the greater Seattle area continue to appreciate above average rates. This is clearly an indication of not only continued faith in the housing market, but also the buoyancy of the regional economy.”
Experts are agreeing and it seems like we will see a continuation of this powerful housing market through the greater part of next year.
Read more from Home Buying Institute.
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I think we all know why Seattle is the best, from the surrounding nature of the Pacific Northwest to our Seattle Seahawks, there's a lot to enjoy. What's even more exciting is that Seattle was recently voted the #1 Best City for Jobs by Forbes!
The survey took a look at factors for popular US cities including job opportunities, employment growth, monthly median starting salary, median annual income, time spent working and commuting, and housing affordability to create their list.
Technology is making a statement in the real estate industry because of the increase in job openings. When it comes to jobs, Seattle tops the list due to the number of startups and technology companies starting and expanding in the area.
Other cities on the list include:
No. 2 Des Moines, Iowa
No. 3 Gilbert, Arizona
No. 4 Sioux Falls, South Dakota
No. 5 Fremont, California
No. 6 Chandler, Arizona
Read the full list of best and worst cities for jobs on Forbes.com.
America's homes are bigger than ever