Home Prices: Predictions for 2018
SEATTLE -- U.S. home prices rose at the fastest pace in more than three years in September, according to the S&P CoreLogic Case-Shiller Index released on Tuesday. A key driver: The record-low supply of homes for sale.
The October Market report from Zillow shows that home prices in the Seattle Metro area kept going up last month. Key findings:
- The median home value is $457,700
- The typical home gained $48,000 in value over the past year, a nearly 12% increase
- There are 24% fewer homes on the market to choose from
- Rents are up 5.6% to a median rent payment of $2,198
On the KOMO Midday News (weekdays 1-3pm), Lennox Scott, chairman and CEO of John L. Scott Real Estate, shared his predictions of what buyers and sellers should expect in 2018. (Click the picture above to hear the audio).