: Massive growth from Amazon, Microsoft, and Starbucks fueled the market. Seattle's unemployment rate hovered around 3%, well below the national average.
: In many cases, monthly rent for a high-value property was actually lower than the mortgage payment would have been for that same property. Neighborhood Alternatives should i buy a house in seattle 2017
: Rates remained relatively low, generally staying below 4% for much of 2017. However, economists correctly predicted they would begin climbing toward 4.5% or 5% heading into 2018. Key Factors to Consider : Massive growth from Amazon, Microsoft, and Starbucks
: Most new construction in 2017 focused on apartments for rent rather than condos for sale, further limiting options for first-time buyers. : Seattle led the country in home price
: Seattle led the country in home price increases for over a year. By August 2017, home values had risen 13.2% year-over-year—more than double the national average of 6.1%.
In 2017, Seattle was considered the . For anyone looking to buy during that year, the decision was largely a trade-off between securing a home before prices climbed further and navigating intense competition caused by record-low inventory. Market Landscape in 2017
: The median sales price in Seattle reached approximately $478,500 by the third quarter of 2017. While this was nearly double the U.S. median of $254,000, it was still seen as a "bargain" compared to San Francisco's $900,000 median.