Lauren Baier Kim, a senior editor at RealEstateJournal.com, published an article that touches on some key real estate markets across the U.S. Here is what she had to say about Seattle:
Seattle sales slow
It seems that even Seattle is showing signs of the housing slowdown. The metro, although tied with Salt Lake City as the strongest housing market in the U.S ., saw pending home sales in King County drop 9.4% year-over-year in June, while the number of homes for sale rose 53% year-over-year, according to a Seattle Times article. Although boosted by a strong job market, Seattle’s housing market is being hurt by its high prices and lack of affordability, the Times says. But the outlook isn’t all gloom and doom: “I’d still characterize the Seattle market as being healthy — one of the few in the country,” the paper quotes Lawrence Yun, senior economist for the National Association of Realtors, as saying.
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