Seattle's low inventory creates affordability concernsMarch 31, 2014 @ 10:51 am
A new report by RealtyTrac shows that 96 percent of the counties that the company follows are better off than they were four years ago and low inventory has helped home prices accelerate past pre-recession levels in markets such as Seattle, San Francisco, Denver and Oklahoma City.
"Those rapid home price gains are causing a concerning drop in affordability rates in some cities, but home builders and homeowners with regained equity should help provide more supply to balance out many of those markets in 2014," said Daren Blomquist, vice president at RealtyTrac.
However, there's a ways to go in the national housing market, with only eight percent of the 410 U.S. counties analyzed faring better than they did during the housing boom eight years ago.
RealtyTrac analyzes housing market health by gauging four main categories: home price appreciation, affordability, percentage of bank-owned REO sales, and the unemployment rate.
Danny O'Neil says the Seahawks have the NFL's single biggest difference maker
Week In Photos
Incredible images from around the world this week
Please login below with your Facebook, Twitter, Google+ or Disqus account. Existing MyNorthwest account holders will need to create a new Disqus account or use one of the social logins provided below. Thank you.