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Seattle-Area Home Price Growth Ranks Near Top in U.S.
U.S. home prices rose at a slightly slower pace in June, though the U.S. housing market remained resilient, and the Seattle market exhibited even greater buoyancy, despite the COVID-19 pandemic. The S&P CoreLogic Case-Shiller home price index rose 3.5% in June from a year earlier.
The pleasantly surprising news is home prices in Seattle rose at a faster pace in June than all, but one of the 20 markets tracked. Phoenix topped the list with a 9% increase followed by Seattle, which was up 6.5%, and then Tampa, which rose 5.9%.
S&P Dow Jones Indices’ Craig J. Lazzara says, “Housing prices were stable in June. The National Composite Index rose by 4.3% in June 2020, as it had also done in May (June’s growth was slightly lower in the 10- and 20-City Composites, which were up 2.8% and 3.5%, respectively)”
It was the fifth consecutive month of increasing prices for Seattle and price growth topped national averages for the eighth straight month in King, Pierce and Snohomish counties.
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