Seattle no longer tops for price growth

Local

SEATTLE - The latest report from S&P CoreLogic Case-Shiller shows that Seattle’s home prices have considerably cooled.

The last two years, Seattle has topped the Case-Shiller index for annual growth in home prices. Recent months, though, have Seattle tumbling all the way down to fourth, behind Las Vegas (12.8 percent increase), San Francisco (7.9 percent), and Phoenix (7.7 percent).

And while Seattle’s annual increase in home prices was 7.3 percent through October, prices in King County have also plummeted 11 percent over the last six months as of November, per the Northwest Multiple Listing Service.

This falls in line with a decrease across the country, with the National Association of Realtors reporting that sales of existing homes in the United States fell 7 percent in November from last year. Looking to 2019, expect this trend to continue.

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