Single-family homes across the Seattle metro area are increasing in price at a rate twice the national average.

By Mike Rosenberg Seattle Times business reporter

Seattle home prices have hit a record and are now rising faster than any major city outside the Pacific Northwest, according to the latest S&P/Case-Shiller data.

Compared with a year ago, Seattle area single-family home values in March were up 10.8 percent, behind only Portland, where prices have shot up 12.3 percent in the last year, according to the Case-Shiller index released Tuesday. The Seattle growth rate was more than double the national average of 5.2 percent.

March also marked the first time the Seattle region surpassed its home value peak last seen in summer…

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