Seattle’s Red Hot Housing Market and Its First-Time Homebuyers

This is a well-written blog post covering the “whys” regarding the importance of our region’s double-digit price increases. These factors mean a great deal to those who are looking for starter homes. The greatest increases have been seen in those homes in the lower prices ranges, resulting in a 75% jump in starter home pricing over the past for years. It can definitely be intimidating to buy, especially as a first time home buyer, when home prices are growing so quickly. Connecting with a real estate broker who can help you with the process and be your guide is imperative. The brokers at Windermere Mercer Island would be happy to meet with you, discuss your home ownership goals, and answer your questions.

Windermere Eastside

dreamstime_s_8927135The S&P Case-Shiller Home Price Index was just released earlier this week ranking the major metropolitan areas across the U.S. by the fastest-rising home prices. While we have not muscled out Portland for the No. 1 spot on the list, we came in a close second having narrowed the gap significantly.

According to an analysis by The Seattle Times, Seattle-area home prices are now rising at their swiftest pace in 2.5 years. While we missed out on taking over Portland for the top spot on the Case-Shiller index, Seattle did increase its lead over third-place Denver where prices only rose 8.8 percent over last year.

Portland, having led the Case-Shiller index all year, had the fastest-rising home prices up 11.7 percent over a year ago. In Seattle, home prices were up 11.4 percent over 2015. Both Pacific Northwest cities saw home costs increase at more than twice the national…

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