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Seattle Home Prices & Rents On The Rise

There have been a lot of factors pointing toward the Seattle housing market stabilizing recently but the latest news seems to just about prove it. According to the S&P/Case-Shiller Home Price Indices, Seattle area home prices increased 5.7% between October 2011 and October 2012.

Home prices did drop slightly from September to October (0.2%), though such dips are expected at this point in the year. That brings Seattle back to the same spot it was at in early 2005 in terms of prices.

Trulia also ranked Seattle sixth on their list of the nation's "healthiest" housing markets for 2013.

While it's good news that the Seattle economy is on the mend, it might not be great news for renters. According to CNN Money, Seattle is among the nation's 10 cities with growing rent prices. The rental prices have risen 8.3% from last year with a median monthly rent of $1,439.

· Seattle home-price index climbs 5.7 percent over 12 months [PSBJ]
· Case-Shiller: Yearly Price Gain Increased Again in October [Seattle Bubble]
· Seattle ranked sixth 'healthiest' housing market for 2013 [MyNorthwest]
· 10 cities with the highest rent spikes in 2012 [CNN Money]