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The S&P/Case-Shiller home price index says Seattle-area prices were up 1.8 percent month-over-month, the fourth straight monthly increase. (AP image)

Seattle-area home prices on the rise

BY Josh Kerns  on August 28, 2012 @ 6:44 am (Updated: 8:29 am - 8/28/12 )

Home prices continue to climb in the Seattle area and across the country, according to the newly released Standard & Poor's/Case-Shiller home price index. Experts say it's just the latest indication the nation's economy is improving.

The report says Seattle-area prices were up 1.8 percent month-over-month, the fourth straight monthly increase.

Prices also increased 1.8 percent compared with June 2011, the second consecutive year-over-year rise in King, Snohomish and Pierce counties.

All 20 cities tracked by the index also rose in June from May, the second consecutive time in which every city posted month-over-month gains. All but two cities posted stronger gains in June than May.

"The combined positive news coming from both monthly and annual rates of change in home prices bode well for the housing market," said David Blitzer, chairman of the S&P's index committee. "The market may have finally turned around."

Josh Kerns, MyNorthwest.com Reporter
Josh Kerns is co-host of KIRO Radio's Seattle Sounds (Saturday nights 7-8) and a digital content producer for MyNorthwest.com.
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  • longwayhome wrote...
    Home prices are going back up
    August 29, 2012 8:19 pm
    After the bush administration destroyed the economy. You get tired of hearing this, don't you? So, if you vote for another republican you can expect the same catastrophe. The republicans try to dismantle the Obama health care plan, to the exclusion of taking care of business, ignore the responsibilities of their office to make Obama a one term President. That is why Obama will win the election in Nov. The republicans have their blinders on again, as they have in many elections in the past. Not too smart, those republicans.
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