Index Investing News
Thursday, May 29, 2025
No Result
View All Result
  • Login
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
No Result
View All Result
Index Investing News
No Result
View All Result

Seattle home prices falling twice as fast as rest of U.S.

by Index Investing News
December 28, 2022
in Property
Reading Time: 2 mins read
A A
0
Home Property
Share on FacebookShare on Twitter


The U.S. housing market continued to sag in October as the impact of higher mortgage rates and concerns over the economy rattled buyers and sellers.

Prices fell 0.5% from September, the fourth consecutive monthly decline for a seasonally adjusted measure of home prices in 20 large cities, according to the S&P CoreLogic Case-Shiller index.

Seattle once again ranked among the fastest cooling markets in the country.

From September to October, Seattle-area prices dropped 1%.

On an annual basis, Seattle-area prices in October were up 4.5% over the previous year, the second smallest increase among the 20 cities the index tracks. (San Francisco had the smallest price jump at 0.6%.)

After years of double-digit percentage price growth earlier in the pandemic, Seattle’s 4.5% price jump in October was the area’s smallest annual increase since December 2019.

The index tracks single-family home prices in portions of King, Snohomish and Pierce counties and lags by two months.

The market began downshifting earlier this year as the Federal Reserve started hiking its benchmark interest rate, with the goal of easing high inflation that’s been driven in part by skyrocketing housing costs. 

Rates for 30-year, fixed mortgages reached 7.08% in October — and again in November — though they have since retreated, Freddie Mac data show. With borrowing costs roughly double where they were at the start of the year, and inflation leaving less savings to put toward a down payment, homebuyers have pulled back. Sellers are also reluctant to list their properties, yet houses that are on the market are lingering and getting discounted as demand slumps.

“As the Federal Reserve continues to move interest rates higher, mortgage financing continues to be a headwind for home prices,” Craig Lazzara, managing director at S&P Dow Jones Indices, said in a statement Tuesday. “Given the continuing prospects for a challenging macroeconomic environment, prices may well continue to weaken.”

Even as prices fall on a monthly basis, they’re still higher than they were a year ago, though the rate of gains has declined. A nationwide gauge was up 9.2% in October from a year earlier, down from 10.7% in September.

The largest annual price increases were in Miami; Tampa, Florida; and Charlotte, North Carolina. In Miami, prices gained 21% year over year.

Seattle Times real estate reporter Heidi Groover contributed to this report.

This story was originally published at bloomberg.com. Read it here.



Source link

Tags: FallingFasthomePricesrestSeattle
ShareTweetShareShare
Previous Post

FIL/USD Draws Short-Term Bullish Sentiment at $3.3

Next Post

The ‘Most games played for every NBA franchise’ quiz

Related Posts

Seattle Metropolis Council approves momentary housing density plan

Seattle Metropolis Council approves momentary housing density plan

by Index Investing News
May 29, 2025
0

The Seattle Metropolis Council signed off on a short lived housing plan Tuesday that paves the way in which for...

Simply Listed | 7955 SE Trenton Avenue

Simply Listed | 7955 SE Trenton Avenue

by Index Investing News
May 29, 2025
0

LOVELY IN LEXINGTON WOOD3 Beds | 2 Baths This fantastically up to date pool dwelling is actually unmatched. Completely positioned...

After 50 Years within the Identical Rental, She Grabbed Her Probability to Purchase a Place

After 50 Years within the Identical Rental, She Grabbed Her Probability to Purchase a Place

by Index Investing News
May 29, 2025
0

Sara Sugihara is at all times on the transfer. In her 71 years, she has travelled the world, discovered seven...

Simply Listed | 50 SE Twelfth Road #2640

Simply Listed | 50 SE Twelfth Road #2640

by Index Investing News
May 29, 2025
0

BEAUTIFUL IN BOCA RATON2 Beds | 2 Baths This superbly up to date unit is ideal for FAU college students...

GBI Particular Report: Leveraging Frameworks, Navigating Dangers

GBI Particular Report: Leveraging Frameworks, Navigating Dangers

by Index Investing News
May 28, 2025
0

Throughout Inexperienced Buildings Initiative’s Higher Buildings Seminar, a panel examined the design and development of a knowledge heart in Reno,...

Next Post
The ‘Most games played for every NBA franchise’ quiz

The 'Most games played for every NBA franchise' quiz

Stocks fall as trading resumes after long holiday weekend

Stocks fall as trading resumes after long holiday weekend

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED

Thunderbird Leisure Group Inc. 2025 Q1 – Outcomes – Earnings Name Presentation (OTCMKTS:THBRF)

Thunderbird Leisure Group Inc. 2025 Q1 – Outcomes – Earnings Name Presentation (OTCMKTS:THBRF)

May 13, 2025
Each Investor Wants a “Purchase Field”—This is Methods to Construct One the Proper Approach

Each Investor Wants a “Purchase Field”—This is Methods to Construct One the Proper Approach

May 13, 2025
Supreme Court docket decides in favor of Ted Cruz, opening the floodgates to wantonly bribing politicians

Supreme Court docket decides in favor of Ted Cruz, opening the floodgates to wantonly bribing politicians

May 16, 2022
In Orlando, Looking for a Move-In Ready House Near All the Fun

In Orlando, Looking for a Move-In Ready House Near All the Fun

August 24, 2023
India downgrades diplomatic ties with Pakistan

India downgrades diplomatic ties with Pakistan

April 23, 2025
‘Buying Beverly Hills’ Season 2 Hits Netflix In March

‘Buying Beverly Hills’ Season 2 Hits Netflix In March

February 24, 2024
Bitcoin Mining Agency Ionic Faces Potential Liquidation By Celsius Collectors

Bitcoin Mining Agency Ionic Faces Potential Liquidation By Celsius Collectors

August 28, 2024
Father’s Day Items for Dad: Wallets Are as much as 65% Off at Coach Outlet

Father’s Day Items for Dad: Wallets Are as much as 65% Off at Coach Outlet

June 13, 2022
Index Investing News

Get the latest news and follow the coverage of Investing, World News, Stocks, Market Analysis, Business & Financial News, and more from the top trusted sources.

  • 1717575246.7
  • Browse the latest news about investing and more
  • Contact us
  • Cookie Privacy Policy
  • Disclaimer
  • DMCA
  • Privacy Policy
  • Terms and Conditions
  • xtw18387b488

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In