What do Seattle and Dallas-Fort Worth have in common?
They are the top two cities with the fastest rising home prices in the entire United States. Seattle is ranked first with a 13.1 percent home price increase from June 2016 while Dallas-Forth Worth is recording a 10.5 percent increase. The median home prices for Seattle are at $447,100 and with Dallas-Fort Worth at $211,200.
As a nation, we have seen an average increase of 7.4 percent, with the median home prices reaching $200,000 for the first time.
Zillow Chief Economist Dr. Svenja Gudell explains "even in areas where the housing market has slowed, home values are at or very near peak levels, selection is limited, demand is high and competition is fierce."
Seattle and Dallas-Fort Worth aren't the only ones seeing record home prices, Las Vegas and Tampa are as well with 10.2 and 10.1 respectively.
"Zillow said nationwide inventories of homes for sale have dropped 11 percent in the last year - the greatest drop in inventory in four years."
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