Metro Seattle is used to being #1 when it comes to housing. For the past decade or more, the #1 meant the hottest market with the fastest-growing home prices. We’re closing out 2022 at the top of another list, the most rapidly cooling urban area in the U.S.
While home prices in the country fell 0.5% from September to October, Seattle regional prices dropped a full percentage point.
On an annual basis, Seattle area prices were still up according to the S&P CoreLogic Case-Shiller Index. From October 2021 – October 2022 prices were up 4.5%, the smallest increase since Dec. 2019.
The median home sales price is $762,600 in
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