Archive for the ‘Finance’ Category

Median Home Prices Up, Still Down From Peak

Posted: February 20th, 2014 by Brad

The median price of single-family homes sold in King County in 2013 hit $415,000, its highest in five years, as the local housing market’s recovery gained steam. After tumbling to a seven-year low of $340,000 in 2011, the median rose 7 percent in 2012 and grew 14 percent more last year, according to data from [...]

Luxury Home Market Bullish

Posted: January 8th, 2014 by Brad

Surging stock prices and increased consumer confidence are among the factors propelling sales in the upper-end housing market, says Walter Molony, a spokesman for the National Association of Realtors. Sales of homes priced at $1 million or above in the U.S. rose 31% to 8,900 units in October 2013 from the same month a year [...]

Home Prices Rebounding

Posted: December 11th, 2013 by Brad

“Home prices have come back strong,” according to veteran real estate consultant John Burns, CEO of a California firm that bears his name. Burns illustrated his optimism in a recent blog that compared price-to-income ratios for 21 housing markets his company tracks. In 20 of those markets, including Seattle, the ratio of median home price [...]

Housing Market Eases, Stays Strong

Posted: November 15th, 2013 by Brad

Pending sales during October dipped 2.7 percent when compared to the same month a year ago, but rose nearly 3.2 percent from September’s volume. October’s decline was the first negative change in year-over-year comparisons since April 2011. (That drop-off was attributed in part to a frenzy during April 2010 when buyers were scrambling to take [...]

Housing Market Robust Despite Record Rainfall, Government Shutdown

Posted: October 17th, 2013 by Brad

September tested the housing market’s resilience around Western Washington with fluctuating mortgage rates, record-setting rains, and persistent inventory shortages in some areas. By month’s end, however, both pending and closed sales outgained the same period a year ago, according to the latest figures from Northwest Multiple Listing Service. Prices also increased compared to 12 months [...]

Seller’s Market Fierce, Rising Rates Add Fury

Posted: June 28th, 2013 by Brad

Well-priced homes continue to draw multiple offers and sell at a brisk pace around Western Washington as buyers react to increases in interest rates and asking prices. Inventory showed signs of improving with the addition of 11,445 new listings during May, the highest number since April 2010. May’s total outgained the year-ago figure of 9,861 [...]

Predictions for 2013

Posted: January 15th, 2013 by Brad

We forecast at the beginning of last year our housing market would continue its recovery, and that 2012 would be a good year for real estate: http://justrealseattle.com/2012/01/predictions-for-2012/ While we didn’t go out on a limb to predict price increases, we certainly alluded to the possibility. We are seeing steady price increases (or the amount of [...]

Seattle: hotbed for real estate investment

Posted: December 5th, 2012 by Brad

In its latest outlook on real estate, the Urban Land Institute (ULI) pegged Seattle as one of the top seven markets in the U.S. for investment, development and homebuilding. Compared to a year ago, the city’s overall ranking dropped a notch, despite improvements in each category. Now in its 34th year, the Emerging Trends in [...]

Year in Review

Posted: December 5th, 2012 by Brad

In January we forecast 2012 would be a strong year for Seattle metropolitan real estate with this post: http://justrealseattle.com/2012/01/predictions-for-2012/. Here’s what changed since last year: Inventory – decreased by 43% Sales – increased 26% compared to this time last year Values – increases in median prices by 12% in Seattle and 8% countywide (condos increased [...]

Hottest sales season in five years

Posted: September 17th, 2012 by Brad

Rebound continues, strengthens sellers’ positions   At least one area of our region was hot this summer. According to NWMLS statistics released earlier this month, August was the fourth consecutive month with more than 2,000 closed transactions. That makes the summer of 2012 the most robust sales season since 2007.   The prices homes fetched [...]

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