Home Prices to Fall 1.73% in Seattle Predicts Pricing Nation

BOSTON, MA / ACCESSWIRE / October 3, 2016 / Pricing Nation forecasts that the average home value in the Seattle Metropolitan Statistical Area (MSA) will decrease by 1.73 percent over the next twelve months. Pricing Nation also provides projections for the Seattle MSA of future home prices at the zip code level and the individual house level. We believe this more micro based, ground up approach will add value to the home price forecasting space. We intend to publish our Seattle forecast on a quarterly basis.

A table with the top 5 biggest increases and decreases per zip code can be found below. The Pricing Nation Econometrics Heat Map (also below) visualizes how the average home prices will vary across zip codes in the Seattle MSA.

The purchase of a home is historically the largest investment a family will make. However, due to increasing volatility from a number of fronts including global markets, home values are not always likely to increase. To ensure that buyers and sellers are confident in their most important investment decision, Pricing Nation supplies home price forecasts at the house level, the zip level, the MSA level and now the National level. Our models have been built based on local demand/supply factors for pre-recession, recession and post-recession data. The models have been shown to be highly statistically significant in predicting major market moves. We regularly report on the ongoing predictability of our models.

Of particular note is that Pricing Nation’s forecasting model, on a back-tested basis, would have anticipated the severe downturn on average in MSA home values in August 2006, a full twelve months before the actual downturn hit in August 2007, and 16 months before the U.S. officially entered a recession*.

Pricing Nation offers free “Home Investment Report Cards” including local demand/supply factors and grades for each home in the current MSAs at www.pricingnation.com. For an extra $3.99 per home, Pricing Nation is offering its home level forecast for the next twelve months. “The Home Investment Report” card is designed to be easy to use for all home buyers and sellers

Pricing Nation is currently providing projections for homes in the Boston, Seattle, Miami, Tampa MSAs and NYC and is expanding its offerings to other cities in the near future.

For more information about our forecasts, please contact Raj Koganti at raj@pricingnation.com

* Downturn data reported by S&P/Case-Shiller Home Price Indices, and recession data reported by the National Bureau of Economic Research (NBER)

SOURCE: Pricing Nation

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