Examining the S&P Case-Shiller National Home Price Index, the home prices in the Seattle Region have risen by 11 percent between September 2015 and 2015, surpassing Portland which has had a 10.9 percent increase during this time period. Here is what you need to know about the causes and effects of Seattle’s booming housing market.
Seattle’s rent is currently growing faster than any other city in the U.S., this according to the Seattle Times as June 2015 vs. June 2016 rent comparisons revealed a staggering 9.7% increase. What’s more, “rents are soaring so fast that June’s 1.1% monthly price gain in the Seattle area beat out the growth that Chicago and Washington, D.C., have seen in an entire year.”
The Burrard Group, a Vancouver, BC–based real estate development firm provided a first glimpse of downtown Seattle’s next generation condominium tower called NEXUS, and plans to offer unit reservations in May 2016, presales in Fall and break ground by late 2016 for first occupancy in 2019.
As yet another acknowledgement that the Seattle metro area has joined the league of global cities attracting Asian investment, immigration and homeownership, Palace Magazine recently published a special report on American cities that included the Emerald City with significant contributions by Realogics Sotheby’s International Realty.