Puyallup Residential Market Report - June 2008

June 2008

The Puyallup Residential real estate market is showing signs of change. Buyers are still experiencing the edge when it comes to purchasing a home, but there are indications that change is on the way. There were fewer active listings in June as compared to May and there was a significant increase in the amount of pending sales.

With pending sales at the highest level of 2008 and the number of active listings on the decrease, it appears we are heading towards a shift in the market. When there are fewer homes available and more buyers purchasing you can expect to see prices increase.

On the flip side, closed sales were down in June 2008 compared to May. The reason for this could be that interest rates creeped up for much of the month, before sliding back down again near the end of June. There is no telling where interest rates are heading in July. With the threat of inflation and an economy in flux, it indicates a possible increase in interest rates for the future.

The window of opportunity for lower home prices and low interest rates is still here, but key indicators point to a change on the horizon. If you plan to buy, now is a great time to get pre-approved and contact a real estate professional to walk you through the process.

Visit the Solinsky Home Team  for more information about listings in your area.