Thursday, September 10, 2015

Huge Price Gains

I reported in an earlier blog this week that Seattle median home prices reached $560,000 in August of this year. Metro King County's median price was $500,000.

Two years earlier, according to a Zillow report from September 2013, the peak Zillow Home Value Index (basically, median home price) for a Seattle metro home was $379,200. This is more than a 32% increase over a two year period.

These price points make it very difficult for investors and first-time home-buyers to acquire property, even with current low interest rates. Affordability is such an issue in the Seattle area, that it is a major part of the local political discussion.

Bubble prices, anyone?

Happy Investing!

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