Seattle’s home-price increases keep surging ahead of the rest of the nation even as the local housing market is showing a clear trend of slowing a bit.
Across Greater Seattle, the typical single-family house cost 10.4 percent more in November than a year ago, the biggest increase of any metro area in the country, according to the Case-Shiller home-price index released Tuesday.
It’s the third straight month that the Seattle area led the nation as the hottest housing market after a nine-year stretch without being on top.
The winter is normally the slowest time of year for Seattle’s real-estate market. The growth in home values was actually the slowest it’s been in nearly a year, continuing a downward trend since early fall. And compared with just a month ago, home costs were nearly unchanged, matching the national trend.
The Case-Shiller home-price index tracks housing costs in 20 major metro areas, including Seattle and Portland.