Seattle Home Price Growth Nearly Double Other Cities

A recently released Case-Shiller home-price index showed that Seattle’s single-family home prices have surged 13.5 percent in the last year ended in July, nearly double that of any other metro area.

The Seattle Times reports that Portland, with the second-fastest price growth in the country, had housing price increases of 7.6 percent in the same time frame. In recent months Portland’s market has slowed down, while Seattle’s has continued to grow.

A shortage of homes for sale and strong job and population growth have spurred the uptick in housing demand and prices in Seattle. The city has had the nation’s hottest housing market for 11 straight months.

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