Report: Seattle has the nation's hottest housing market

SEATTLE - Have you tried to buy or sell a home in Seattle recently?

Then you should know that you have been doing that in the nation's hottest real estate market for single-family homes. recently ranked Seattle as the hottest market for single-family homes this fall.

"Seattle's economy is seeing healthy growth as the market's large technology sector drives employment to new all-time highs. The metro's single-family market is rapidly expanding and seasonally adjusted home prices have eclipsed the previous record high set in 2007. Prices jumped 4.4 percent over the last quarter and 10.9 percent year-over-year. Meanwhile, home sales are up 12.6 percent from a year ago, but remain below their prior peak, which leaves room for additional growth. Despite strong demand, single-family homes remain affordable and in-line with apartment affordability," the site said.

Portland also ranked in the top five, and the other cities in the top five, all in Florida, are Fort Lauderdale, Orlando, Palm Beach County.

"In the Northwest, both Seattle and Portland are experiencing robust housing fundamentals and strong demand, which are supported by strong local economies that have received significant boosts from the tech sector. The rankings are particularly encouraging for Florida, which was devastated by the housing bust and subsequent recession. The state had three markets in the top five that boast tremendous growth opportunities as housing fundamentals remain well below pre-recession levels," said.

As oil prices have fallen, markets that are more energy dependent, like those in Texas, have seen a cooling of real estate.

San Antonio fell from second in the spring ranking to 17th, Dallas from fifth to 19th and Denver from first to ninth.

Rounding out the rest of the top 10 were Columbus, Ohio, at No. 6 followed by Nashville, Tenn.; Charlotte, N.C.; Denver; and Oakland. San Francisco was No. 11.
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