Seattle-are home prices have been in cool-down mode for a few months now and August seems to be the point at which the market decided what little growth was going on will go on no longer. According to the S&P/Case-Shiller 20-city index, Seattle home prices remained exactly the same in August as they were in July. And since home prices only gained 0.6% from July to June, we've been stagnant for quite some time now. The declines of Autumn are in full swing.
Home prices are still up 6.6% from this time last year but that number keeps shrinking as well (7.1% in previous month). Seattle is also dropping in the 20-city index, down to No. 16 from No. 12 in the previous month. Only seven cities on the index gained more year-over-year than Seattle in August, however. Portland was among them, up 7.2%.
· Seattle Home Prices Begin the Autumn Decline Earlier Than Last Year [SB]
· Seattle home-price gains stall in August [ST]
· Seattle-Area Home Prices Kept Cooling Down in July [CS]