The Northwest Multiple Listing Service released their April stats yesterday and outlined the fact that 2009 has some positive signs emerging in what has been a difficult and troubled market.
The statistics show that pending single family home sales rose over 28% in Snohomish County and 15% in King County from a year ago. The surge is being attributed to lower prices, low mortgage rates, and buyer incentives such as the first-time home buyer tax credit.
The majority of the recent sales have been in the lower end market which should trigger a similar surge in the “move up” market in the next two or three months. Despite the fact the million dollar market continues to struggle, once these other segments stabilize, we should see sales pick up considerably in that upper end market as well.
Here are the links to the May 6th articles from our local papers:
Seattle Times:
http://seattletimes.nwsource.com/html/businesstechnology/2009180657_homesales06.html
Everett Herald:
http://www.heraldnet.com/article/20090506/NEWS01/705069742#Hopeful.sign.for.housing.market
