Home prices in Seattle rose just 0.1 percent from June to July, which was one of the smallest gains registered among the nation’s top 20 markets.
According to the latest Standard & Poor's /Case Shiller Home Price Indices, the national average gain for the same time was 0.9 percent. Only Las Vegas (down 0.2 percent) and Phoenix (down 0.1 percent), recorded losses for June to July, and Denver was flat. Seattle tied with Charlotte, N.C., for the smallest increase.
For the past year, home prices in Seattle have fallen 6.4 percent, much more than the national average decline of 4.1 percent for the largest 20 markets. Only four markets — Minneapolis (down 9.1 percent), Phoenix (down 8.8 percent), Portland (down 8.4 percent), and Chicago (down 6.6 percent) have shown steeper declines.
But S&P officials weren’t saying the housing market has recovered.
“Continued increases in home prices through the end of the year and better annual results must materialize before we can confirm a housing market recovery,” said David Blitzer, chairman of the Index Committee at S&P Indices.
http://www.bizjournals.com/seattle/news/2011/09/27/seattle-home-prices-up-just-barely.html?surround=etf&ana=e_article