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.