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Washington real estate trends

According to Washington REALTORS®: "Washington State continues to defy national trends in home prices, lending, and sales," and they go on to state that "in Washington State, foreclosures and sub-prime lending occurred at lower rates than just about anywhere in the nation."

Now ... According to NWMLS: the number of real estate sales is down, the amount of inventory is up, and real estate prices continue to increase. Somehow the laws of supply and demand aren't holding up. At a minimum, it seems that prices should level off and stagnate until the flow of money picks up again.

Posted by Larry Wright on 09/15/2007 01:22 PM

Comments (5)

washington real estate

5 Comments on Washington real estate trends

SEP

2007

This trend in Washington basically supports the idea that real estate market is a local market.

SEP

2007

Thanks Derrick ... I think you're correct.

SEP

2007

We are seeing many builders offering deep concessions. Not reflected in the sales price but definitely affecting their bottom line.

OCT

2007

I think it is partially the responcibility of us, as Realtors, to advise our sellers that there is more inventory out there for sale and to be realistic in pricing. It is time to show buyers the actually dollars for what property is selling for, not what it is listed for... The general public gets these two numbers mixed up all the time. Just because something is listed for 850K doesn't mean that is what it is going to sell for... I think it is time for the Real Estate Agents to step up and inform the public of what they need to price their homes at if they want them to sell in a realistic period of time.

OCT

2007

Laura ... I tend to agree ... thanks for your comments.

Larry

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