WA: Seattle Home Prices Down 6.4% in 2011

Seattle Gay Real EstateHome prices in Seattle increased 0.7 percent from May to June, but that was less than the national average of a 1.1 percent increase.

The monthly Standard & Poor’s Case Shiller Home Price Indices survey indicated that out of the 20 largest U.S. markets, 19 saw increases from May to June. (Portland was flat.) For the year, Seattle home prices have fallen 6.4 percent, well above the national average of a 4.5 percent decline.

Officials said the latest data didn’t indicate a recovery. “This month’s report showed mixed signals for recovery in home prices. No cities made new lows in June 2011, and the majority of cities are seeing improved annual rates.”

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