Seattle area’s home prices take biggest-ever 12-month leap | Seattle Real Estate Podcast

What a difference just two years can make.

Around this time in 2019, Seattle-area home prices had dipped and price growth nationwide was slowing.

Cut to 2021: Seattle has clocked another month as one of the hottest American housing markets as home prices here and nationwide climb at a record-breaking pace.

Single-family home prices in the Seattle metro area were up 20.2% in April from a year earlier, the region’s biggest-ever 12-month leap, according to the S&P CoreLogic Case-Shiller Home Price Index released Tuesday. (The index lags by two months and reflects portions of King, Pierce and Snohomish counties.)

Travis Meidell, who works in tech and bought a home in Lake Stevens this spring, said the local housing market felt like it “got more competitive” over the course of his home search that stretched from 2020 into this spring. “It became more cutthroat.”

Prices climbed faster in Seattle than nationwide even as costs nationally jumped 14.6%, “literally the highest reading in more than 30 years of S&P CoreLogic Case-Shiller data,” said S&P Managing Director Craig Lazzara in a statement.

Join your host Sean Reynolds, owner of Summit Properties NW and Reynolds & Kline Appraisal as he takes a look at this developing topic.

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