Seattle may be the second best place to live in the country, but according to the Puget Sound Business Journal, it has a dubious distinction in terms of home prices.
While people are shelling out more money elsewhere – particularly in Phoenix and Vegas -- Seattle was the only city among the top 20 markets tracked in the S&P/Case-Shiller Home Price Indices where home prices dropped in August, the Business Journal reports.
It's not the end of the world. The home-price index – a three-month average covering June, July and August –slipped for Seattle only by 0.1 percent in August. The Business Journal noted that Seattle home prices are still up 3.4 percent compared to last year. The top performing city tracked by S&P/Case-Shiller was Phoenix, which posted its fourth month of double-digit gains in home prices. Las Vegas posted its first increase in home prices since January 2007.
· Seattle home prices dipped in August, Case-Shiller reports [PJBJ]