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.
