Home values see biggest quarterly gain since 2006
Oct 23, 2012, 7:34 AM | Updated: Oct 10, 2024, 2:08 pm
Seattle Mayor Ed Murray says he doesn't want to use the property tax, but it's less regressive than a sales tax. ( AP Photo/file)
( AP Photo/file)
Home prices recorded their biggest increase in six years last quarter, rising in Seattle, King County and in much of the United States.
In the third quarter, prices in King, Pierce and Snohomish counties rose 2.6 percent from a year ago, according to Seattle-based Zillow. A typical home in the three-county region is valued at $263,000.
Home values rose even more in Seattle where a typical home is worth $380,100, and in King County where a typical home value is $320,800.
Across the country, Zillow’s Home Value Index jumped 1.3 percent, to a median value of $153,800, the biggest increase since 2006 when home values rose 1.5 percent.
Of 30 metropolitan areas in the Zillow survey, Phoenix posted the largest home value increase in the third quarter, up 5.9 percent from the second quarter.
