Seattle home prices continue to shoot upward faster than a luxury condo building in South Lake Union. In May, the region’s single-family home prices increased by 13.3 percent year-over-year, more than double the national average gains of 5.6 percent.
That’s according to the most recent Case-Shiller National Home Price report, which takes the temperature of the nation’s housing market each month.
May was the ninth month in a row in which Seattle experienced the biggest year-over-year increase in home prices. The numbers suggest a correlation between cities with booming tech industries and hot housing markets, which probably comes as no surprise to any Seattle or San Francisco resident.
Portland came after Seattle in the May report, with price gains of 8.9 percent. Denver