The hottest real estate market in the United State

The hottest property market in the United States: house prices in Seattle rose the first for 18 consecutive months

the hottest property market in the United States: house prices in Seattle rose the first for 18 consecutive months

April 28, 2018

[China paint information] according to Schiller's national house price report, the price of independent houses in Seattle topped the list in February with a year-on-year increase of 12.7%. The main reasons are population growth, the continuous prosperity of the science and technology industry, and the supply of "more monks than soldiers". House prices in Seattle have risen for six years, and may approach $1million by the end of the year

Seattle, one of the most favorite cities for Americans to live in, has also led the U.S. real estate market for 18 consecutive months

according to the latest Schiller national housing price report, in February, Seattle topped the list with a year-on-year increase in the price of single family houses of 12.7%. It mainly benefits from the population growth in the region, the continuous prosperity of the science and technology industry, and the shortage of housing supply. Last year, Seattle was the city with the highest rise in house prices in the United States

followed by Las Vegas and San Francisco. In other cities, there was almost no double-digit year-on-year increase

previously, northwest multiple listing service (nmls) reported that in March, the median house price in Seattle exceeded $800000 for the first time, to $819500, far exceeding the historical record of $777000 set in February

if the current rise continues, the average house price in Seattle is expected to approach the $1million mark by the end of this year

the rise of house prices in Seattle has exceeded that before the financial crisis. 7 the toy manufacturer headquartered in Billund announced on June 16 that its investment decided to increase by 3%. Even excluding inflation, house prices have exceeded the peak in 2007

in this regard, Dr. Sven jagudell, chief economist of zillow, commented that the continuous and rapid rise in house prices in recent years is enough to make home buyers feel headache. For first-time home buyers and low-income buyers looking for the upper market, the pain of rising prices is particularly acute, because the price of such real estate is rising the fastest. This is largely because people have the greatest demand for them

those buyers who failed to find a house in the golden area of the urban area were frustrated, so they moved to the suburbs. This trend makes housing prices rise faster in the suburbs than in the urban areas

the beautiful scenery and pleasant climate around Seattle have attracted a large number of enterprises and employees. Amazon, an American Internet giant with 500000 employees, has its headquarters in Seattle. Therefore, a large number of well paid yard farmers are stationed here. In addition, Seattle is also one of the most popular cities for overseas investors

however, the real estate market in Seattle is facing the dilemma of "too many people but too few people". The insufficient supply of housing inventory is also one of the factors contributing to the rapid rise of housing prices in Seattle, and the real estate circulation speed is also very fast

according to zillow, a housing trading platform, the average time for houses to be sold in Seattle in 2017 was 47 days, the shortest time ever. This makes Seattle the third largest market for home sales in 2017. San Jose, California, and San Francisco ranked among the top two in terms of sales speed with 41 days and 43 days respectively. The longest time for sale is in New York, with an average of 134 days

said mattvan winkle, owner of Seattle re/max northwest Realtors "Inventories remain at the lowest level in history, and buyers' demand has spread since last year, because many buyers are unable to buy real estate.

it is worth noting that there is no obvious sign that Seattle is in a real estate foam. The driving factor of a round of house price rise is not the same as before the financial crisis. Banks only lend to people with good credit and solvency, and the default rate is far lower than during the financial crisis.

Although the downstream demand in the United States has driven lithium battery enterprises to expand production, the average house price in the United States has risen as a whole, and has maintained a rise for as long as 70 months