Housing market still active, with overall direction “positive”
KIRKLAND, Washington (Sept. 7, 2016) – Home sales in Western Washington continued to outpace year-ago activity, but member-brokers at Northwest Multiple Listing Service say persistent inventory shortages are constraining activity.
Despite a sparse selection in many areas, an expected summer slowdown, and “appraisal conundrums,” Northwest MLS members notched 11,898 pending sales during August, eclipsing the same month a year ago by 1,295 transactions for a 12.2 percent gain. There were 8,628 pending sales in the four-county Puget Sound region -- the best August for mutually accepted offers since 2005 when members tallied 8,874 sales.
Brokers added 11,411 new listings to the…