Slower growth, but growth all the same…

Posted on by

This article on MSNBC highlights the results of the Standard & Poor’s/Case-Shiller home price index which states that Seattle and Portland (OR) are in the top 3 of nation in terms of value appreciation for single-family homes; number 1 went to Charlotte, NC.  Granted, we’re the only 3 of the top 20 metro areas that are tracked that had positive appreciation but the fact that we’re positive in prices versus double-digit declining like those harder hit areas such as Miami, San Diego, Phoenix and Detroit is good news for our area.  We continue to have strong jobs and economic growth, much like what they write about for the Charlotte area, which helps to support our local real estate values.

Overall, for a good housing market you typically want a range of appreciation that is 1-3% above inflation which is pretty much where we (Seattle) are now for average appreciation in the area, local markets will always have more specific rates so always do your homework when buying or selling.

Share this:
Share this page via Email Share this page via Stumble Upon Share this page via Digg this Share this page via Facebook Share this page via Twitter
This entry was posted in buyer's agency, financial matters, financing/lending, For Buyers, For Sellers, household tips, investment property, listing agent, neighborhood info, relocation, Uncategorized by Reba Haas. Bookmark the permalink.

About Reba Haas

I've been a real estate agent in the Puget Sound region since 2003 and came to the industry with a background in sales in the tech sector. I'd been interested in real estate for a long time and my mom also happens to be a 20+year veteran agent in Kansas. I didn't grow up around the industry but I have definitely taken the bull by the horns, so to speak, in my own area with some pretty positive results. I've got a great team of people working with and for me. There is tremendous power in a team and it helps to have different perspectives at times when it comes to running a business. All in all, we make a great team! We hope you'll get a chance some day to utilize our varied and excellent skill sets in a future real estate transaction. But, even if we never get to meet you, we hope you'll enjoy and appreciate the information we have to offer here.

4 thoughts on “Slower growth, but growth all the same…”

  1. Ha ha ha, real estate kool-aid. The market will drop everywhere next year. I’m advising clients to expect 10%, at least. Portland and Seattle are not islands…they will be go down with the economy.

  2. I’m a little bit confused. According to the Bureau of Labor Statistics, the Consumer Price Index – a key measure of inflation – is up 4.6% since Nov. 2006. http://www.bls.gov/cpi/

    Case-Shiller shows the Seattle market being up just 3.3% since October 2006. Wouldn’t this actually be a 1.3% DECLINE in real value?

  3. Not necessarily. CPI may be a measure of inflation but it doesn’t always reflect an individual’s personal circumstances, not does the 3.3%of the CS study factor the specific rate of appreciation that a particular location may have. Because real estate is very localized as a market you may have areas where appreciation is vastly different even within a small geographical area. An example would be the Madison/Central District area of Seattle. Certain portions of that area have experienced hyper-appreciation and are continuing to still grow at faster rates than portion of the same area where gentrification hasn’t happened as fast. You can almost go block to block in portions of the CD and see major price fluctuations in similar properties.

  4. Pingback: Team Reba Real Estate » What’s a-happenin’… hot stuff?

Leave a Reply