Has the Market Stabilized?

Posted by on Thursday, March 21st, 2013 at 3:09pm

Here are a few statistics and facts about Washington's Real Estate Marekt:

Economy Growth:  Washington is one of the twelve states in the country that has 3.5% to 4.5% growth in 2012.

The national foreclosure inventory is at 2.9%.  In  Washington it is between 2% - 3% in contrast to the 10% in Florida.

Housing recovery gaining momentaum, thus, homeownership rising again.  Housing recovery also drives the job market which increase the consumer optimism in general.  The rising home prices coupled with low mortgage interest rates create confidence in potential home buyers. 

For the first quarter in 2013, Spring market breakout with multiple offers.  There are more new home construction as the market rebalancing continues.  Home prices rise by 3% or more in certain areas.

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