To buy or rent? According to CNN it’s the latter with a strong renters’ market in Seattle.
A viewpoint of conservative skepticism about the strength of the real estate market is influencing the decision of many to rent versus buy. Or, the ‘wait-‘n-see’ attitude. In addition, new hires from out-of-state ( yes, there is hiring) prefer to rent until they become more familiar with living in an area notorious for its rain.
In comparison with other areas in the country, Seattle has less of a foreclosure problem which has kept home prices from reaching ‘bargain basement’ prices. And, the area’s diversified tech industry continues to offer employment and draw people from out of state.
Price to rent ratio is 30.97. with an average rent of $1654.