Home price forecast (1 year):* 4.2%
Home prices rose quite steeply here during the boom years, gaining about 110% between 2000 and 2007 and have declined only modestly since then, down 18% from their peak. But the city and its suburbs, nestled around the Puget Sound, have limited open land for building new homes, which props up resale prices. Plus employment is strong: The metro area's unemployment rate was 7.6% in December, well below the national average.
As a result, homebuyers will propel prices above the current $255,000 median in 2010, with a tepid, but significant, 4.2% increase predicted.
Is this a good time to buy a home in Bremerton?