Seattle-Area Home Market Leads the Country for 17th Straight Month
Seattle has done it again! It has maintained the title as “hottest real-estate market in the country” for the past year and a half. Since January 2016, the cost of a single-family home grew 12.9 percent. According to the Seattle Times, “it’s the 17th month in a row that Seattle has led the country in home-price increases. Compared to just a month ago, home values have risen by 0.7 percent making it the country’s biggest month-over-month increase locally since last summer.”
The homes with the largest price increase was seen in cheaper “first-time home-buyer” homes. These homes are generally smaller/starter homes and found in outlier locations (farther from main cities). Prices from this group shot up 14.1 percent more than a year ago.
Over the past 6 years, since the old bubble high, Seattle home prices have climbed a total of 82 percent. Experts say that the local real estate market show no signs in slowing down anytime soon.
To read the full Seattle Times article, click here.
