Seattle area still leads nation in home price increases

Greater Seattle has now led the nation in home price increases for 20 months in a row, tied for the second-longest streak, our online news partner The Seattle Times reported Tuesday.

The cost of a single-family home across the metro area grew 13.1 percent in April compared to a year ago, according to the monthly Case-Shiller home-price index, released Tuesday. It’s about the same growth the region has experienced consistently for a while, month after month after agonizing month for buyers, The Times said.

Home prices here had grown pretty evenly across all price points for a while, but the cheapest homes in the region are seeing the biggest percentage increases – rising 16 percent a year – while the most expensive homes are seeing slightly smaller gains, at 12 percent, the story said. Since the index covers the full metro area, that generally means houses on the farthest edges of the region, like Tacoma and Everett, are experiencing the biggest jumps in prices.

Yet, The Times story noted that those relative bargains on the outer edges of the region aren’t what they used to be. The median house sells for $500,000 in Snohomish County, $360,000 in Kitsap County and $355,000 in Pierce County.

You can read the complete Times story here.

Leave a Reply

Your email address will not be published. Required fields are marked *