Another sign that the sky is not falling, courtesy of P-I real estate reporter Aubrey Cohen's blog... note the term, "declining annual appreciation"... in other words, your home is still worth more. The map above shows how the RATE or speed of appreciation fell, not that prices are lower compared to a year ago. Also note that these stats are based on the sales of the same homes that sold in 2006... so one can imagine that some were distressed sales, whether relocations or for individual financial reasons, pulling the prices down a bit.
And of course these stats factor in the whole metro... Seattle's most popular neighborhoods have much stronger numbers.
"The typical Seattle-area house was worth 1.23 percent more in November and 0.85 percent more in the first half of December than in the same periods of 2006, according to a new report.
November was the 22nd straight month of declining annual appreciation in the Seattle area, according to First American CoreLogic. The area ranked 10th out of 34 metropolitan areas for November's appreciation and 11th for the first half of December."
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