Home price growth slowing

Local

Seattle home price growth slowed again in the latest period, dropping to fourth highest in the nation after reigning as No. 1 for much of the past two years.

New data from the S&P CoreLogic Case-Shiller 20-city home price index, released Wednesday, show average home prices in the Seattle area were 7.3 percent higher in October than the year before. As recently as June, home prices were up by 12.8 percent over the previous year.

The data also show that average Seattle home prices have actually dropped by about 2.4 percent over the past two months. That's the steepest drop of any city in the index.

The Las Vegas metro area reported the strongest year-over-year price growth of 12.8 percent in the latest reporting period. San Francisco saw a 7.9 percent price increase, while home prices rose 7.7 percent in Phoenix.

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