April 2015 Home Prices Clark County WA-Home Sales/Values Increase!
I have clients ask me if we are in a Real Estate Bubble again like in 2007? No, we are not in a bubble. But we are short on our homes for sale inventory but the public is still shopping and buying. Values of homes have gone up which is a good thing since so many homes lost huge amounts of value through 2007-2010. The sellers who put their homes for sale today in this market are experiencing multiple offers and quick closings.
NAR Chief Economist Lawrence Yun talks about the rise in home sales, median home prices, regional and local market variations, and pent-up demand.
Lending is still strong with good, dependable loans being used and interest rates are still phenominal.
Here is the RMLS Market Stat report from our Portland RMLS office:
"Inventory in Months of Readily Purchased & Occupied Listings:" This means that if real estate brokers didn't listing any more homes....it would take only 1.6 months of selling to sell all the ready-to-move-in homes to be purchased and gone.
February 2015 Homes Ready to Move In: 2.5
March 2015 Homes Ready to Move In: 1.7
If you'd like to know more about our Real Estate Market in Clark County, call, text or email me . 360-852-1689.