The Real Estate Market is HOT !!!!!!
March 25th, 2013 at 10:14 pm by Joanne V. McCann
Here in Washington State, low inventory is driving up home prices, the Seattle PI reports:
A continuing shortage of homes for sale drove up prices in the Seattle area in February, according to a new report. But there are signs the market could be changing. The median sales price of a house was $420,000 in Seattle and $365,000 in King County in February, up 15.1 percent and 18.5 percent, respectively, from a year earlier, and 6.1 percent and 4.3 percent from January, the Northwest Multiple Listing Service reported Tuesday.
And finally, Washington state as a whole ranks 14th in price increases in its real estate market for the January 2012-January 2013 period.
Home prices continue to increase across the country with Washington state ranking 14th in terms of price gains, according to CoreLogic, a residential housing information provider based in Irvine, California. Using CoreLogic’s home price index, which tracks repeat sales of single-family homes across the country, home prices nationwide rose 9.7 percent in January 2013 compared to January 2012. The figure includes distressed sales and marks the 11th consecutive increase in national home prices and the biggest increase since April 2006, CoreLogic said.
So if you have been one of those folks sitting on the fence (or your hands) waiting for the real estate market to bottom-out — we have seen the bottom and are now LOOKING UP! Don’t wait too long to jump into the fray of this once again, exciting roller-coaster ride of real estate. Just remember to call on the Sister Act team of Joanne & Susann to help. We are experienced at taming the “wild rides” for our clients and successfully setting the stage for SOLD since 1989!