Jul 27 2006
My Fair Seattle
According to CNNMoney.com, Seattle is a fair value market -
After years of local home markets getting more and more overvalued, the trend has reversed, according to an analyis published this week.
Each quarter, Local Market Monitor, which provides research to the real estate industry, assesses 100 markets, comparing selling prices to “equilibrium” values. Company president Ingo Winzer bases those values on local economic and population growth, construction costs, vacancy rates, household income in the area and interest rates.
Since there’s no significant signs that the market has cooled in Seattle, does this mean prices are where they should be? Hard to believe considering the number of years of double-digit appreciation rates we’ve experienced.
