Watch The Real Estate Minute, Coldwell Banker Bain's news video about the current housing market in Western Washington and the Pacific Northwest. Updated on a regular basis, the Real Estate Minute gives you insight into home price trends, housing inventory levels and buyer demand throughout the region.
Real estate professionals and economists typically agree that jobs and home sales fit together like hand in glove. An improving economy can influence a region's housing market both by bringing new residents seeking employment opportunities and by bolstering the home buying confidence of those already living there.
To that point, there's been recent welcome news for a number of Pacific Northwest areas, as Policom Corp released its 2011 Economic Strength Ratings, comparing 366 U.S. Cities, and ranking them by rapid and consistent economic growth. Impressively, six of the top 50 metros nationwide are located in the Pacific Northwest, with Seattle ranked highest at number 3, and Olympia coming in number 7. Portland grabbed the top honor for Oregon by ranking 25th out of the 366 cities, and also added a spot on Kiplingers "Comeback cities" for 2011. Adding to the good news, Seattle was also touted by CNN Money as a city where it's better to buy a home than it is to rent one.
With interest rates recently hitting new lows for 2011, it’s shaping up to be a strong spring and summer home buying season in the Northwest. If you're considering buying or selling your home, contact your Coldwell Banker Bain Realtor today. He or she will provide you with accurate, up-to-the-minute information about your neighborhood of interest, and without obligation.
Click here to watch the previous edition of the Real Estate Minute.
