Posts tagged Los Angeles
Slower (Not Lower) Home Price Growth

S&P Dow Jones recently released the Case-Shiller Home Price Index for August 2018, revealing that Seattle home price growth continues to slow. Up until just two months before that, Seattle led the nation in single-family home price gains for 21 consecutive months, but that run was ended as Las Vegas took over the lead.

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Seattle’s Population Growth Nears 50 People Per Day

The US Census Bureau recently released new population statistics that reveal Seattle added just over 17,000 people to its population in 2017, which equates to about 326 people per week or 46 people per day. As Curbed Seattle reports, Seattleites aren’t likely to be surprised at the latest figures, which show “that around 724,745 people lived in the Seattle city limits alone as of July 2017.”

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Slowing Rent Increases Could Bring More Landlords to List Single-Family Homes for Sale

After a few years of staggering rent increases, single-family home rental prices in Seattle are leveling off, which Seattle Times predicts could bring more and more landlords to decide to list their homes for sale and benefit potential homebuyers (and renters). As the article outlines, approximately 1 in 6 single-family homes in the greater Seattle region is currently rented, and the last couple of years have seen dramatic decreases in what was once a burgeoning market for landlords. While “rents in local single-family homes rose a paltry 0.4 percent in February from a year ago,” landlords saw 4% increases last year, and “just two years ago, rents were soaring as much as 9 percent annually.”

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Seattle Tops the Nation in Home Price Growth for 18th Consecutive Month

Seattle has now topped the nation in home price growth on the S&P/CoreLogic Case-Shiller Home Price Index for eighteen months in gains that are once again widening on a monthly basis. Despite slipping slightly last summer, February’s monthly increase exceeded January’s by 1.74 percent, representing an average price increase of 1% per month over the last twelve months.

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Seattle Office Rents Are Fastest Rising in the Nation

As Mike Rosenberg of Seattle Times reports, “it’s not just housing prices: Seattle is not the bargain it used to be for companies, either.” Though the Emerald City was historically a bargain compared to other larger cities, “the city’s recent boom driven by Amazon and other tech companies has propelled Seattle up the ranks of the nation’s most expensive places to rent an office, passing Chicago and Los Angeles just in the last three years.” During the three year period, Seattle office rents increased a staggering 31 percent, “about 2 ½ times faster than the national average.”

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