Puget Sound Home Prices Skyrocketed In 2022: New Data
SEATTLE – After home prices spiked over the past year, people in Western Washington are finding it harder to buy a house than at any point in the last 15 years, according to a recently released home affordability report.
The 2022 U.S. Home Affordability Report showed potential home buyers face significant financial obstacles across the United States amid rising home prices and interest rates as well as straggling wage growth.
The report, released by real estate data company ATTOM, found median-priced single-family homes and condos were less affordable in the second quarter of this year compared to historical averages in 560 of 575 counties with data available. That’s more than 97 percent of all counties measured, up from 69 percent in the second quarter of last year.
That's no surprise in Puget Sound, where the growth in home values outpaced most people's salaries last year. While realtors have noted signs of a calmer market emerging, asking prices for most properties remain sky high.
https://www.msn.com/en-us/money/realestate/puget-sound-home-prices-skyrocketed-in-2022-new-data/ar-AAZN0MV
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