KIRKLAND, Wash. (May 3, 2012) – Northwest Multiple Listing Service brokers reported double-digit gains in both pending and closed sales during April compared to a year ago, but the most eye-catching number may pertain to prices. For the first time in more than four years (since January 2008) the year-over-year change in selling prices was positive. The price gain was a modest 1.27 percent for last...
recovery
NWMLS April 5th, 2012 “Buyer Ready” Home Shoppers Have Edge as Brokers Report Rise in Multiple Offers KIRKLAND, Wash. (April 5, 2012) – The housing market in the Puget Sound region is pointing toward a sustainable recovery, according to several brokers who commented on the March activity report from Northwest Multiple Listing Service. MLS Members reported 9,126 pending sales during March, a...
Sales of existing-home sales rose in March, continuing an uneven recovery that began after sales bottomed last July, according to the NATIONAL ASSOCIATION OF REALTORS®. Existing-home sales, which are completed transactions that include single-family, townhomes, condominiums and co-ops, increased 3.7 percent to a seasonally adjusted annual rate of 5.10 million in March from an upwardly revised 4.92...
Housing Shortage on the Horizon? Mike Castleman, founder and CEO of Metrostudy, which tracks real-time data of the country’s inventory of new homes, says a housing shortage is looming that will soon will create a huge surge in demand for new homes. As such, now is the time to buy, he says. In the 41 cities Metrostudy covers, 78,000 houses are either vacant and for sale, or under construction — that...
Generation X—young families and adults ages 31 to 45—are likely to lead the home-buying recovery as it gets underway, according to real estate experts who spoke at an educational webinar produced by the National Association of Home Builders (NAHB) in partnership with Builder magazine. These potential home buyers are most likely to think it’s a good time to get off the fence—and have strong...
Australian builder plans 500 houses in Seattle market One of Australia's largest homebuilders is entering the U.S. market with a bet on King, Snohomish and Pierce counties. By Eric Pryne Seattle Times business reporter One of Australia's largest homebuilders is jumping into the Seattle market. Henley Properties said Monday it plans to build 500 houses in King, Snohomish and...
Buffett Says Buying His Home for $31,500 Was Third-Best Investment He Made By Kathleen M. Howley - Feb 28, 2011 Billionaire Warren Buffett said buying a home was the third-best investment he ever made, after the rings he bought for his first wife, Susan Thompson, and, after her death, his second wife, Astrid Menks. “For the $31,500 I paid for our house, my family and I gained 52 years of terrific...
Generation X — adults ages 31 to 45 — are expected to lead the recovery in the housing market, according to real estate experts in a recent webinar produced by the National Association of Home Builders. During the event, speakers highlighted results of a survey of 10,000 buyers in 27 metro areas. While Generation X isn’t the largest population group — making up 32 percent of the population...
Nearly 70 percent of buyers and sellers say they believe the housing market and property values will recover in the next year or two, according to a new survey by Prudential Real Estate and Relocation Services Inc. What’s more, 86 percent of the more than 1,000 buyers and sellers surveyed believe real estate is still a good investment despite the souring market conditions in many areas the past few...
Washington, DC, January 20, 2011 Existing-home sales rose sharply in December, when sales increased for the fifth time in the past six months, according to the National Association of REALTORS®. Existing-home sales1, which are completed transactions that include single-family, townhomes, condominiums and co-ops, rose 12.3 percent to a seasonally adjusted annual rate of 5.28 million in December from an...
Washington, DC, December 30, 2010 Pending home sales rose again in November, with the broad trend over the past five months indicating a gradual recovery into 2011, according to the National Association of REALTORS®. The Pending Home Sales Index,* a forward-looking indicator, rose 3.5 percent to 92.2 based on contracts signed in November from a downwardly revised 89.1 in October. The index is 5.0 percent...
Interest rates are likely to remain low into 2011, Federal Reserve policymakers hinted this week in at least two presentations. These indications came one week after the Fed shut down its program to buy mortgage-backed securities, which had kept rates at or near record lows in recent months. In a speech Thursday, Fed Governor Daniel Tarullo said, "The relatively modest pace of recovery, the continued...
The decline in home sales in February was a disappointment to the housing industry, but Fannie Mae’s analysts say it is temporary and a sustainable turnaround is likely by the end of the year.Fannie Mae Chief Economist Doug Duncan points to evidence that a recovery is on its way, including an increase in consumer spending, an improving service sector, and the likelihood that employers will begin hiring...
The Federal Reserve renewed its commitment to keep key interest rates near zero for an “extended period,” but also confirmed that it will stop buying mortgage-backed securities at the end of March.The Fed, whose regular meeting began Tuesday, said that “housing starts have been flat at depressed levels” and “employers remain reluctant to add to payrolls” as a reason for extending the cap on...
If you read the new report from Moody's Economy.com and MSNBC.com you would think so! They list Washington state as one of the last places to enter the recession and likely one of the first few out. They predect that five states including Washington will begin to recover in the 4th quarter of 2009. This is due in large part to our high tech industry and expect our employment to rebound in...