J
2016/2017 SUMMARY
MARKET REPORT YEAR END REVIEW & TRENDS TO WATCH
ob growth, congestion, immigration policy, taxation
and interest rates factor into Seattle’s holdout housing market.
In 2016, growth in Seattle home prices, on a percentage
basis, continued to lead the nation amidst slackening growth
in competing cities. The S&P CoreLogic Case Shiller report highlights described the year’s leaders as follows: “Seattle,
01
03
02
A 2020 ME TROP OLIS
BU Y VS . RENT ?
RISIN G
CONDOS MAKE A
Uninterrupted growth in employment
by major Puget Sound companies
SPR AWL + CR AWL = CO MM UTER
CO MEBACK If interest rates continue to rise as
will lead to increased urbanization—
CO NSTERNATIO N
regulations will not allow growth to
We anticipate that the vote in favor
opportunities to buy, particularly from
entire Sound Transit network will
condominium market. Meanwhile, we
has implications for transit-oriented
high-end luxury units or single-family
system transfer stations and terminals
prices in Seattle and the Eastside are
be too little too late as the region grasps
New York, California and overseas,
upon more provincial infrastructure.
experienced
upward,
not
outward.
travel
times
commuters’
are
already
endurance.
testing
Reshoring
of U.S. employment accompanied by deterioration in European economies might lead to even greater concentration of population and development.
we
expect
mounting
pressure on renters to take advantage of
Current
spread out into the county and increased
anticipated,
of Sound Transit 3 means that the
the entry-level to the mid-range of the
move forward to completion. This
expect no decline in the demand for
development projects in the vicinity of
residences. On the contrary, median
throughout the region. It may, however,
still far behind competing markets in
with global city opportunities stacking
from which we have been drawing executives
relocating buyers.
FULL REPORT ON RSIR.COM
and
other