(The Center Square) – Bellevue and Seattle ranked among the top 20 real estate markets in the nation, according to a new survey. report From Wallet Hub. Bellevue was her 14th and Seattle her 16th.
To assess the current local real estate market in the United States, the personal finance website ranked the nation’s top 300 cities on 17 key factors, including building permits, rising house prices, affordability, and job growth. I rated it.
“The housing market has been skewed on the seller’s side this year, with mortgage rates nearly doubling over the past year and home prices rising by an average of nearly 21%,” says WalletHub’s report.
WalletHub analyst Jill Gonzalez has taken a deep dive into the ranked Washington cities.
“Eleven Washington cities were included in the study, and they all rank in the top half of places to buy a home,” she noted.
Bellevue and Seattle are followed by Vancouver (No. 29), Tacoma (No. 51), Renton (No. 54), Everett (No. 57), Spokane Valley (No. 60), Kent (No. 73), Spokane (No. 77), Federal Way (No. 105), and Yakima (No. 136).
“Some did better than others,” Gonzalez continued. “For example, Bellevue and Seattle rank in the top 20. Considering that homes for sale are only on the market for about 40 days before they sell, they have the best real estate markets. There are several, with low foreclosure rates and mortgage delinquency rates of 0.04% in Bellevue and 0.1% in Seattle, plus the two cities have affordable maintenance costs and high population growth rates. , ranks high in terms of median credit score.”
Bellevue has the third lowest foreclosure rate in the nation, behind Green Bay, Wisconsin, and Lexington, Kentucky.
Bellevue has the fifth-lowest rate of mortgage delinquency, second only to Berkeley, California. Cambridge, Massachusetts. Miami Beach, Florida. and Sunnyvale, California.
“All other cities in Washington state have healthy housing markets with low foreclosure and low vacancy rates,” Gonzalez said. The rent-to-price ratio and overall housing affordability are reasons why these cities did not rank higher.”
Several of these cities ranked highly in various subcategories.
For example, Renton ranked 3rd and Everett ranked 5th, ranking homes with the shortest average days on the market.
Spokane was the fourth lowest market in terms of foreclosure rates.
Here are the 10 best places to buy a home, according to WalletHub.
1. Frisco, Texas
2. Allen, Texas
3. McKinney, Texas
4. Austin, Texas
5. Nashville, Tennessee
6. Cary, North Carolina
7. Gilbert, Arizona
8. Denton, Texas
9. Peoria, Arizona
10. Richardson, Texas
Here are the 10 worst places to buy a home, according to WalletHub.
300. Peoria, IL
299. Bridgeport, Connecticut
298. Shreveport, Louisiana
297. St. Louis, Missouri
296. Hartford, Connecticut
295. Cleveland, Ohio
294. Rockford, IL
293. Baton Rouge, Louisiana
292. Columbus, Georgia
291. Baltimore, Maryland