Redfin Report: Seattle Reclaims its Migration-Destination Status

January 30th, 2019

“A year ago, we thought Seattle might have passed its peak as a migration destination when it posted a net outflow for the first time at the end of 2017. That trend stuck for just one more quarter before reversing, with Seattle posting a net inflow again in the second quarter of 2018. Since then, Seattle’s net inflow has surged to make it the fifth-most popular migration destination in the fourth quarter, behind nearby Portland and the relatively affordable metros–Sacramento, Phoenix and Atlanta–that have long dominated this list. Although the number of home sales in Seattle was sharply declining at the end of the year (down 22 percent in December), search interest is still high. Washington State’s lack of an income tax may be helping Seattle to continue attracting people, as new tax policies enacted just over a year ago favor areas where homebuyers can avoid hitting the $10,000 SALT cap.”

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