Seattle home prices up for second month in a row – Puget Sound Business Journal

Seattle home prices increased 2 percent from March to April, the second month in a row with an increase after seven previous months of decline, according to the S&P/Case-Shiller Home Price Indices.

Prices in Seattle rose 1.7 percent from February to March.

While prices are still down 1 percent from a year ago, the newest figures indicate movement toward recovery in the housing market.

The Seattle area (including King, Snohomish and Pierce counties) beat out the national average, which showed prices increasing by 1.3 percent month to month. Prices were still down by 1.9 percent for the 20-City Composites for the year.

For April, 19 of the 20 U.S. cities on the index posted positive monthly returns. Detroit was the only exception, with a monthly decline of 3.6 percent.

“While one month does not make a trend, particularly during seasonally strong buying months, the combination of rising positive monthly index levels and improving annual returns is a good sign,” David Blitzer, chairman of the Index Committee at S&P Indices, said in a statement.

via Seattle home prices up for second month in a row – Puget Sound Business Journal.