Zillow released this article today predicting what the housing market will do in 2014. According to the article, Zillow expects housing prices to rise 3% in 2014, interest rates to hit 5%, and for home ownership to drop to the lowest it has been in years. They also gave our beautiful city of Seattle the proud title of 2nd hottest market in the nation for 2014.
I have never been one to look into the crystal ball to predict what the housing market will do, but I tend to agree with Zillow. The Seattle market will likely continue our positive swing in home values, and interest rates are almost guaranteed to rise. What I know for sure is Seattle has a strong economy, a shortage in inventory and a growing population. It’s not a stretch to think that 2014 will be another robust year for real estate.