The local housing market continues to grow on a yearly basis, with prices for single-family homes in November 2014 having risen by 6 percent over November 2013, but the market also saw slowing monthly growth for the third month in a row, according to the S&P/Case-Shiller home price index released Tuesday. Despite the slowdown, Zillow’s Chief Economist Stan Humphries told The Seattle Times that the Seattle area’s housing prospects for 2015 are still strong, and the slowdown represents merely the market settling back in to normal levels. The Seattle market continues to outperform both the 20-city index and the national market, which saw annual growth rates of 4.3 percent and 4.7 percent respectively. Rates for 30-year fixed mortgages have held steady over the past week at 3.58 percent.
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It's truly inspiring to see the Seattle housing market thriving, with home prices increasing by an impressive 6% over the past year. This positive trend not only reflects the city's economic growth but also indicates a strong demand for residential properties. As a prospective homebuyer, I am thrilled to witness this upward trajectory, as it signifies a healthy and flourishing real estate market in Seattle.
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Seattle's housing market shows continued growth, with home prices up 6% over the last year. This aligns with recent trends, but some sources report slightly higher increases . The market remains competitive, with homes selling quickly and receiving multiple offers. This could be good news for sellers but make it challenging for buyers facing rising prices and low inventory.
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