(Seattle Times ARTICLE) Home prices: from sizzle to simmer

[EastSider]

With real-estate markets across the country reeling, Seattle-area homeowners may have a hard time getting any sympathy from distant relatives when they talk about how much the market has cooled off here.

After 2 ½ years of double-digit increases, King County's single-family home appreciation peaked early last year. But at 16 percent for the year, the increase in home prices for 2006 handily beat the previous five years' annual average: 9 percent. The same was true in the southern half of Snohomish County.

So far this year, King County's appreciation rate has dropped to 13 percent.

It remains to be seen if the housing market is seriously cooling off or merely taking a breather before prices shoot up again.
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