Seattle region home sales held at a four-year low in May, with the sharpest declines in the lower price categories. The median price rose slightly to a new record, but the annual rate of increase was about half of last year's, a real estate information service reported.
A total of 6,864 new and resale houses and condos closed escrow in May in the Seattle-Tacoma-Bellevue metro area encompassing King, Snohomish and Pierce counties. That was up 11 percent from April but down 16.7 percent from May 2006, according to DataQuick Information Systems of La Jolla, Calif. The firm tracks real estate trends nationally via public property records. Read more...
Friday, July 13, 2007
Sunday, July 8, 2007
Housing Prices Around Washington State Rising at More Modest Rates
KIRKLAND , Wash. ( July 5, 2007) – With inventory at an all-time high in the Northwest Multiple Listing Service system, buyers are becoming more selective and sellers are receiving fewer multiple offers, according to MLS officials. Condominiums remain a bright spot, they noted.
Mid-year figures show the volume of pending sales of single family homes and condominiums (combined) is down about 7.3 percent from a year ago, while prices climbed 9 percent. Through June, members have reported 43,543 closed sales, off 3,430 units from the year ago total of 46,973. The median price for completed sales area-wide (through six months of 2007) is $326,000, up $27,000 (9 percent) from this time last year.
For single family homes (excluding condominiums), the year-to-date median sales price is $345,000. That’s a 10.2 percent increase from a year ago, but the trend is pointing toward single-digit increases, except perhaps for condominiums.
June marked the third straight month of single-digit gains in sales prices overall, although several counties are still reporting double-digit jumps. Read more and the figures...
Mid-year figures show the volume of pending sales of single family homes and condominiums (combined) is down about 7.3 percent from a year ago, while prices climbed 9 percent. Through June, members have reported 43,543 closed sales, off 3,430 units from the year ago total of 46,973. The median price for completed sales area-wide (through six months of 2007) is $326,000, up $27,000 (9 percent) from this time last year.
For single family homes (excluding condominiums), the year-to-date median sales price is $345,000. That’s a 10.2 percent increase from a year ago, but the trend is pointing toward single-digit increases, except perhaps for condominiums.
June marked the third straight month of single-digit gains in sales prices overall, although several counties are still reporting double-digit jumps. Read more and the figures...
Tuesday, July 3, 2007
Net's real-estate benefits unrealized, panel says
WASHINGTON — State laws and real-estate agents' business practices are preventing consumers from getting the full benefit of the competition that the Internet was expected to bring to the real-estate industry, federal regulators said Tuesday.
In a new report from the Federal Trade Commission (FTC) and the Department of Justice (DOJ), regulators said discount brokers and other rivals to traditional agents have been constrained in their ability to use the Internet to reduce fees and improve service. Read article...
In a new report from the Federal Trade Commission (FTC) and the Department of Justice (DOJ), regulators said discount brokers and other rivals to traditional agents have been constrained in their ability to use the Internet to reduce fees and improve service. Read article...
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