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Home Prices Show Small Increase in Seattle for April ...

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Home Prices Show Small Increase in Seattle for April 2009

Sam DeBord, "SeattleHome.com"
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Sam DeBord, "SeattleHome.com"

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Prices on Seattle homes rose in April for the first time in a year. From March to April, real estate prices rose just 0.23 percent in the greater Seattle metropolitan area. The increase is miniscule, but it halts a trend of losses and is likely due to the seasonal uptick of spring and summer home sales.

The Case-Shiller index measures home sale prices in 20 major metropolitan areas around the U.S. This month, 8 of those 20 areas showed increases in prices, while the other 12 were flat or down. Although the numbers aren't great, they also show a slowing of the downward trend we've seen for quite a while in the market. Phoenix, Las Vegas, and Miami assumed their usual positions at the bottom of the list, with foreclosures and distressed properties still battering their real estate markets.

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June 30 - Seattle

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siddharta
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siddharta

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This is good news. By Aug we should get numbers for May & June and hopefully that will confirm that we are bottoming out and done with major declines.