While Seattle grows wealthier, the area’s housing market begins cooling

Oct 7, 2022
Written by WR Communications

Photo courtesy of Daniel Kim / The Seattle Times

Seattle’s median annual income grew to $110,800, well ahead of the nation’s median household income of $69,700. Among the 50 U.S. cities with the largest populations, Seattle now ranks third behind two other tech giants, San Jose and San Francisco.

Despite the strong median income, the Seattle area is also seeing its housing market cool dramatically. In fact, the Seattle area’s housing market is cooling faster than any housing market in the U.S, according to Redfin.

August saw a 27% drop in pending sales, and the median home cost dropped by 10% from May to August.


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