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Seattle Home Prices Jump

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(Photo By: Kevork Djansezian)

(Photo By: Kevork Djansezian)

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(CBS Seatle) — Home Prices in the Seattle metro area increased two percent from March to April of 2012, mirroring a national trend.

On average, home prices in the U.S. increased 1.3 percent in the month of April for both the 10- and 20-City Composites, according to the S&P/Case-Shiller Home Price Indices. Both indices had reported declining prices for the past seven months.

April’s data indicate that on an annual basis, home prices fell by 2.2 percent for the 10-City Composite and by 1.9 percent for the 20-City Composites, versus April 2011.

The Seattle area’s percentage change from February to March was 1.7 percent. However, prices are still down one percent from where they were a year ago.

Out of the country’s 20 major metropolitan areas, only Detroit saw a decline. It slipped 3.6 percent after a 3.2 percent fall from the month prior.

(TM and © Copyright 2012 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2012 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

 

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