Seattle ranked fifth in national home price appreciation

Seattle ranked fifth in annual home appreciation, according to a new national housing report by RealtyTrac.

The Seattle market saw an eight percent annual increase in August compared to an average annual decrease of seven percent a year ago.

Here’s a look at the major markets posting some of the largest home price appreciation in August compared to a year ago, according to RealtyTrac.

1. Cincinnati: 22 percent annual appreciation in August; 4 percent depreciation a year ago
2. Cleveland: 23 percent annual appreciation in August; 1 percent depreciation a year ago
3. Miami: 20 percent annual appreciation in August; 15 percent depreciation a year ago
4. Pittsburgh: 7 percent annual appreciation in August; 3 percent depreciation a year ago
5. Seattle: 8 percent annual appreciation in August; 7 percent depreciation a year ago.

Of the 197 major markets tracked, 22 cities-or 11 percent-reached new median home price peaks in August, notably Pittsburgh, Cincinnati, Columbus, Charlotte, and Austin, Texas, according to the RealtyTrac report.

Overall, RealtyTrac’s report showed that the median price of residential properties nationwide sold in August-including both distressed and non-distressed sales-was $195,000, up 3 percent from the previous month and up 15 percent from a year ago. It is now at the highest level since August 2008.