* Synced from Seattle and Real Estate Blog
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.
Wednesday, January 28, 2015
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