Economist sees Seattle home prices rising as much as 8% this year

Home prices will rise between 7 percent and 8 percent in the Seattle area this year, an increase not seen since the housing bubble in 2006, according to the National Association of Realtors chief economist Lawrence Yun.

“The difference between then and now is that prices are much lower now, even though they are rising,” Yun said.

Another difference: There’s no easy credit anymore, and lenders have much stricter criteria for borrowers taking out a home loan. The result is a housing market…

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