Home prices in Seattle fell again in October, the third straight month of declines, according to the S&P/Case-Schiller Home Price Indices. And those falling home prices and low interest rates may be luring more young, first-time homebuyers to buy rather than rent, leading to possible overbuilding in Seattle’s hot apartment-construction sector.Seattle home prices fell 1 percent from September to October, slightly less than the 1.1 percent drop from August to September. The latest decreases are in line with S&P’s nationwide 20-City Composites, which fell by 1.2 percent. Nineteen of the 20 cities in the index saw home prices fall in October, with Phoenix the only city to show growth, at .3 percent.Seattle home prices are down 6.2 percent from a year ago.
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