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Apr 30

Home prices inch up, but few signs of bubble trouble

th_up-arrowThe Seattle area posted the nation’s third-highest monthly home-price rise in a housing report released Tuesday, but the gain was slight and signs of a housing bubble are few.

Of the 20 metro areas tracked by the S&P/Case-Shiller Home Price Index, Seattle was one of only six areas to see home prices rise from January to February.

Seattle-area homes got 0.6 percent more expensive from month to month, just behind Portland’s 0.8 percent price rise. The nation’s biggest gain was notched by San Diego, with a 1 percent monthly increase.

Compared with February 2013, Seattle-area prices were up 12.8 percent.

With interest rates low and few houses on the market, home shoppers in the most desirable Seattle and Eastside neighborhoods often find themselves having to offer above asking price to land their prize.

Puget Sound Business Journal, April 29, 2014

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