Predictions for Seattle's 2021 Real Estate Market
The Seattle real estate market is currently firing on all cylinders, with stiff competition and rising home prices. And a recent forecast predicted a continuation of those trends as we kick off 2021.
In early December, the research team at Realtor.com published a pair of favorable forecasts for the Seattle housing market, projecting into 2021. Among things, they predicted that Washington’s most populous city could experience rising home values for the foreseeable future.
On December 2, a team of analysts and economists from Realtor.com published a housing market report for 2021. In addition to analyzing trends nationwide, they offered real estate predictions for 100 of the top metro areas in the U.S.
Out of those 100 metros, the Seattle area had the #2 housing market forecast in terms of annual home-price growth.
Realtor.com predicted that home values within the Seattle-Tacoma-Bellevue metropolitan area would rise by 9.7% during 2021. Only San Jose, California ranked higher, with a year-over-year price growth forecast of 10.8%. (A lot of tech workers fled San Francisco during the pandemic, taking up residence in nearby suburbs like those in San Jose.)
Granted, that’s just a prediction for the Seattle-area housing market. So we probably shouldn’t get too wrapped up in the exact numbers being projected here. It’s the broader point that’s important, and that is: Seattle could see steady home-price growth in 2021.