Where Home Prices Are Rising 5 Times as Fast as Washington

WASHINGTON — Home prices are still rising in the Washington metro area, but at a much slower pace than in red-hot West Coast markets, a trend that continued in August.

The August S & P-Case Shiller Home Price Index says the median price in Washington was up 2.3 percent from a year earlier, and prices in Washington rose 0.3 percent from July to August.

Among the 20 largest metropolitan areas, only New York saw a smaller annual increase in home prices, rising 1.7 percent from August 2015.

In Portland, Oregon, on the other hand, the median price of a home in August was up 11.7 percent from a year earlier. In Seattle, the annual gain was 11.4 percent; in Denver, 8.8 percent.

“Supported by continued moderate economic growth, home prices extended recent gains,” said David Blitzer, managing director and chairman of the Index Committee at S & P Dow Jones Indices.

“All 20 cities saw prices higher than a year earlier, with 120 enjoying larger annual gains than [the previous] month.”

The average annual gain among the 20 biggest cities was 5.1 percent.

The post Where home prices are rising 5 times as fast as Washington appeared first on WTOP.

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