Home prices in the Seattle area (King, Snohomish, and Pierce counties) rose by 0.6 percent from June to July, but for the fifth straight month year-over-year appreciation slowed, according to the S&P/Case-Shiller 20-City Index released yesterday.
Annual appreciation of existing single-family homes in July was 7.1 percent (its lowest since October 2012), down from 8 percent from June. The Case-Shiller report called this part of a “broad-based easing of home price gains” nationally, as 19 of the 20 cities in the index recorded slower gains than they recorded in June. As a comparison, between June 2013 and July 2013 prices grew by almost 2 percent, and annual appreciation was at 12.5 percent. Despite this slowdown, MyNorthwest is reporting that data from housing tracker RealtyTrac shows that Seattle was ranked fifth in the nation for home appreciation in August, behind only Cincinnati, Cleveland, Miami, and Pittsburgh.
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