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Seattle-area home prices drop to lowest point in two years – down $116,000 since last spring

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King County’s cooling housing market has turned downright chilly as prices have dropped to their lowest point in two years – with the median home now selling for $116,000 less than last spring.

This is the time of year when home prices typically have a seasonal dip, but not like this: The median single-family house countywide sold for $29,000 less in January compared to the previous month, or three times the normal seasonal decline.

By Mike Rosenberg

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