Falling Seattle home prices may be cutting into rental demand – Puget Sound Business Journal

Home prices in Seattle fell again in October, the third straight month of declines, according to the S&P/Case-Schiller Home Price Indices. And those falling home prices and low interest rates may be luring more young, first-time homebuyers to buy rather than rent, leading to possible overbuilding in Seattle’s hot apartment-construction sector.Seattle home prices fell 1 percent from September to October, slightly less than the 1.1 percent drop from August to September. The latest decreases are in line with S&P’s nationwide 20-City Composites, which fell by 1.2 percent. Nineteen of the 20 cities in the index saw home prices fall in October, with Phoenix the only city to show growth, at .3 percent.Seattle home prices are down 6.2 percent from a year ago.

FOR FULL ARTICLE, CLICK BELOW:

via Falling Seattle home prices may be cutting into rental demand – Puget Sound Business Journal.

Advertisements
This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s