Seattle home prices lead nationwide increase
May 29, 2012, 7:14 AM | Updated: 8:44 am
Home prices in Seattle, and most major U.S. cities are on the rise. (AP Photo/Bill Sikes)
(AP Photo/Bill Sikes)
Home prices in Seattle, and most major U.S. cities,
are on the rise.
Seattle and two other cities saw the biggest month-
over-month price increases in March. Home prices in Seattle
rose 1.7 percent between February and March. Only Phoenix
saw a bigger increase at 2.2 percent.
Overall, prices increased in most major U.S. cities
for the first time in seven months, based on the latest
figures from the Standard and Poor’s Case-Shiller home price
index. Prices increased in 12 of the 20 cities it tracks.
Prices dropped sharply in Detroit, Chicago, and
Atlanta.
The increases partly reflect the beginning of the
spring selling season, but provide the latest evidence of a
slow recovery taking shape in the troubled housing market.
Still, home prices in Seattle are down more than 1
percent compared to the same time last year and down almost
2 percent year-over-year for the 20 cities combined.
