Seattle has been on a housing market surge as of late, finally surpassing its post-2006 slump – a result of the national United States housing bubble crisis.
And it would appear that there is, at least for now, no end in sight.
Early in the year – as in, back in January – Zillow listed off its predictions for the Top 10 hottest Housing markets nationally for 2017.
Seattle, naturally, made the cut.
(And the Puget Sound Business Journal (PSBJ) highlighted the greater Seattle region specifically.)
According to Zillow, the greater Seattle area finished second place in this Top 10, second only to Nashville, Tennessee; Seattle’s predicted home value appreciation rate for 2017 is 5.6%, with Seattle proper, “a market with home value growth in the double-digits and some of the fastest rent growth in the country.”
To that, the PSBJ elaborated as follows:
“What is surprising are the places in the region where Zillow predicts that home values will rise the most. It's not Medina or Mercer Island, which respectively are the greater Seattle area's two wealthiest ZIP codes; instead, it's the South Delridge area, where the company thinks home values will appreciate 7.7 percent.
Three South Seattle neighborhoods – Jackson Place, Rainier Beach and Brighton – and one Eastside area, Northwest Bellevue, also made the fastest-appreciating list with values anticipated to rise between 7.1 and 7.3 percent.
To rank the nation's top 10 housing markets for 2017, Zillow used three factors: the company's Home Value Forecast, recent income growth and current unemployment rates. Zillow scaled these variables for the 100 largest markets to come up with a "hotness" score.”
Overall, cities on the “Best Coast” make up about a third of the listing – Seattle, Portland, Denver, and Sacramento.
Condo / Townhome Specialist