A recent article in Multi-Housing News reveals Seattle has been deemed the best residential market in the US. The website ranked large cities based on their potential for “long-term growth, equity and profit for investors.”
A total of 300 cities, with a population of 300,000 or more, were assessed on the health and affordability of the real estate market as well as the economic environment. The cities were ranked one additional metrics “included home-price appreciation, average number of days till a house is sold, share of underwater houses, foreclosure rate and the city’s ratio of rent price to sale price. Broader economic metrics included population growth, job growth, unemployment and underemployment rates, and median credit scores” and given a score out of 100 points.
Additionally, smaller cities of 150,000 people or less were also assessed. Coming in as one of the top 10 best cities for the residential market was Bellevue, WA. While both cities ranked high in the residential market, MHN points out “a top ranking doesn’t mean a place is especially inexpensive.”
These results should come as no surprise to Washingtonians have seen the Seattle economy boom over the past few years thanks to tech giants like Microsoft and Amazon. Additional statistics from The Seattle Times reveal the high demand for housing in Settle. According to the article, “Seattle-area prices rose 2.6 percent — also by far the fastest growth in the country and more than three times the national average.” If you are ready to find your home in Seattle, Bellevue, or surrounding areas, contact us today!