U.S. single family home prices rose 1.6% in May, the second consecutive month of price gains for the nation. Summer home sales usually contribute to an increase in prices, and home sales this summer have been up. This seasonal effect was expected, but is still a good sign for a beleagured national real estate market. It's the largest price increase since July 2005.
Total West Coast sale prices were up just 0.9%, but the star was King County and the Seattle area. North Seattle alone was up about 20% in sales vs. 2008 and prices are up 4% since January over the whole Seattle market.
Sam DeBord and Brian Wiegand - SeattleHome.com - Seattle Real Estate Brokers - Seattle Homes For Sale
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