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KIRO Radio's Tom Kelly digs deep into the Puget Sound real estate market

Real Estate

Seattle-area home prices on the rise

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)

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."

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