99034, Tumtum, WA

The 99034 zip code of Tumtum, WA is located in the northwestern part of the state and has a population of just over 4,000 people. Home prices in this zip code have been increasing rapidly over the past few years, reaching an all-time high of $269,000 in March 2017. This rapid growth has led to concerns about whether this market is sustainable, and if so, how long it will continue.

One reason for the increase in home prices in the 99034 zip code is that there are a lot of homes available for sale. In fact, according to Zillow data from January 2018, there were more than 2.5 times as many homes available for sale as there were six months ago. This abundance of listings may be contributing to the rapid price growth because potential buyers are able to compare different properties and make an informed decision about which one they want to buy.

Another factor that has contributed to the increase in home prices in Tumtum is low interest rates. The Federal Reserve's recent decision to raise interest rates may have caused some buyers who were interested in purchasing a home before now to wait until rates go down again before making an offer. However, even if interest rates do go up again later on, it will likely be difficult for sellers who are already asking high prices to get those same buyers to come back and make an offer at a higher price point.

Despite these positive factors, there are also some concerns about whether the market for homes in Tumtum is sustainable because it appears that there may not be enough new housing being built nearby. According to Zillow data from January 2018, only 3% of houses sold within 1 mile of where they were listed were new construction homes – compared with 12% nationwide – indicating that demand for housing near Tumtum is outstripping supply by a large margin. If this trend continues then it could lead to increased prices and decreased availability (and thus lower home values) in the future