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Cities where home prices are on the rise

Great news for homeowners living in Seattle and Bremerton, Washington! Clear Capital, a company that provides real estate data and analytics, announced that these cities are in the top 12 areas in the United States (with a population of more than 250,000) that have seen the largest increase in home sale prices. The spike in these home prices is being attributed to a large demand from investors who purchased distressed properties at great bargains. There is also a limited supply of homes available for sale which, is also driving the increase in sale price. Home prices in Seattle have increased 19.2% in the last year with Bremerton’s increasing by 20.7%. The median home price in Seattle has jumped to $290,000 and Bremerton has reached $225,005. Even with the increase in home sale prices, supply is expected to remain low. Until builders create more inventory and sellers regain market value they lost in their homes, there will be limited supply for those individuals looking to purchase a home. If you are in the market to purchase a home, get out there now before it may be too late!

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