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July 2017

News in Brief

  • Seattle gained the most workers in the past year from the San Francisco Bay Area and lost the most to Boise, Idaho, according to a recent LinkedIn report. The Seattle area is gaining around 1,100 residents each week, according to a recent U.S. Census Bureau estimate. The migration is largely driven by the region's booming technology industry. For every 10,000 LinkedIn members based in Seattle, 8.98 workers moved in the last year from the San Francisco Bay Area, likely chasing comparatively low housing prices and overall cost of living. Nearly 7 in 10,000 Seattle LinkedIn members moved from New York city and nearly 6 in 10,000 from Chicago last year. The top three cities that gained the most workers from Seattle in the last year are Boise, Idaho, Grand Junction, Colorado, and Fayetteville, North Carolina. For every 10,000 LinkedIn members in Seattle, 0.42 workers moved to Boise in the last year, 0.06 to Grand Junction and 0.05 to Fayetteville. Seattle is the ninth fastest-growing city in the U.S.
  • After an extensive nationwide search, the National Association of REALTORS┬« have selected Bob Goldberg to succeed current NAR CEO Dale Stinton, who is retiring at the end of 2017 after 36 years at NAR and 12 as CEO. Goldberg currently serves as NAR senior vice president of Sales & Marketing, Business Development & Strategic Investments, Professional Development and Conventions. Goldberg has been with NAR since 1995 and will be NAR's 12th CEO since the association was founded in 1908.
  • Landlords will be required to provide new tenants with voter-registration information under a new ordinance approved unanimously (6-0 vote with 3 council members absent) by the Seattle City Council. According to the Seattle Times, studies have shown that people on the move vote at lower rates, as indicated in the ordinance. While 41 percent of renters in their homes for more than 5 years reported voting in 2014, only 21 percent who lived in their homes for less than one year reported voting, the ordinance says, citing U.S. Census Bureau data. Seattle is the fastest growing big city in the country, according to a Seattle Times analysis of Census Bureau data released recently. From July 2015 through July 2016, the city had a net gain of nearly 21,000 people - 57 per day, on average.
  • According to a report published in the Seattle Times, for the eighth straight month Seattle is the hottest housing market in the country. The typical single-family house across the Seattle metro area cost 12.9 percent more in April than a year ago, according a recent monthly Case-Shiller home price index. Portland was second at 9.3 percent. Nationally, home price increases are slowing down a bit, and grew 5.5 percent from a year ago. Seattle home prices are growing 2.3 times faster than the U.S. average. The typical starter home now in Seattle requires half of household income, according to Trulia. The price of starter homes has nearly doubled in five years while incomes have not come close to keeping up. At the same time, the number of starter homes on the market has dropped in half since 2012. The Seattle area is tied with the Denver region for the fewest number of houses for sale, relative to market size, in the country, according to CoreLogic.
  • Imagine Housing, an organization that builds attractive, affordable, permanent apartment homes around the Eastside for low-income residents, raised $510,000 at its 2017 benefit dinner an auction. This year marks the 30th anniversary of Imagine Housing, founded as St. Andrew's Housing Group in 1987.The Kirkland-based nonprofit group currently operates 13 residential communities with 485 affordable rental homes occupied by more than 1,100 people. Along with helping residents build their educational, employment, financial, and life management skills, the organization also provides academic and social enrichment activities for children to help them succeed in life and break the cycle of poverty in their families.