Study: Homes prices in Seattle are expected to rise 18% over the next year
Home prices in the Seattle metro area are expected to rise 18% over the next year, according to a new study by Porch.
“Over the past 18 months, home prices across the nation have shot up to levels unseen since the build-up to the 2008 financial crisis,” researchers wrote in the study. “In April 2021, the year-over-year growth of the Case-Shiller Index, the premier metric for housing prices, eclipsed 14.5% for the first time in its history.”
By analyzing data from Zillow, Redfin and the Census Bureau, researchers at Porch calculated expected rises in home prices in 51 large metros across the U.S. Seattle’s forecasted rise in home costs was ranked the 19th highest on that list. Austin, Texas, took the top spot — homes prices there are expected to rise by more than 37% over the next year.
Real estate experts say the nation’s dwindling supply of homes is to blame for skyrocketing prices.
https://www.seattlepi.com/realestate/article/seattle-home-prices-expected-to-rise-in-next-year-16406527.php