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Seattle among nation's Top 5 'turnaround' markets

January 15, 2013 @ 10:27 am

With a housing market on the mend in many areas, some cities - including Seattle - are experiencing big increases in home prices.

"What a difference a year makes," said Jed Kolko, Trulia's chief economist. "In 2012, prices rose in 82 of the 100 largest metros, compared with just 12 metros seeing price increases in 2011. The 2012 price turnaround was strongest in the West and Southwest, where steady job growth and vanishing inventories lifted home prices by more than 10 percent in many markets."

The following are the five best "turnaround" housing markets in the real estate recovery, including sales volume and the year-over-year change in asking prices, according to Trulia's research. The percentages below are price changes from December 2011 to December 2012.

  • Las Vegas - 16.3 percent
  • Seattle - 10.2 percent
  • Phoenix - 26 percent
  • Oakland -12.7 percent
  • San Jose - 16.1 percent
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  • Kahlua wrote...
    Misleading information...
    January 17, 2013 10:10 am
    I really hate to be the purveyor of bad news, but all our "feel good" articles are missing something. Yes, these articles make it seem like all is good and well in the Northwest, but they are skewed. First, interest rates are being held down artificially, and I believe we will "pay" for having this done; Second, Seattle's tech industry is pushing all the averages, all the numbers, way out of whack. The new hires come in at huge salaries compared to the rest of the working class, and they are causing this massive increase. They are but a small percentage, but most of the working class still fears for their job and makes an income far less. Don't get me wrong, it's nice to see some movement in the market, but I'd recommend that you not get too dizzy over it.
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