: Most new construction in 2017 focused on apartments for rent rather than condos for sale, further limiting options for first-time buyers.
: In many cases, monthly rent for a high-value property was actually lower than the mortgage payment would have been for that same property. Neighborhood Alternatives should i buy a house in seattle 2017
While Seattle proper was the most expensive, nearby areas offered slightly more "affordable" options in 2017: : Typical home cost around $378,000 . Wenatchee : Typical home cost around $266,000 . Yakima : Typical home cost around $202,000 . Hottest housing market of 2017: Seattle : Most new construction in 2017 focused on
: Seattle led the country in home price increases for over a year. By August 2017, home values had risen 13.2% year-over-year—more than double the national average of 6.1%. Wenatchee : Typical home cost around $266,000
: Supply was extremely tight, with only about 15 days of inventory available in the mid-price range ($500k–$600k). This lack of options created "seller gridlock," where homeowners were afraid to sell because they couldn't find a new place to buy.