AGENT MLS HOME FINDER

Seattle real estate seems to be on a slow recovery, although there are still some negative indicators in the regional real estate market. According to a November 5, 2009 article in the Seattle Post-Intelligencier, home sales have been increasing in the most recent period recorded. The article, written by Gerry Spratt, stated that “Pending home sales were up more than 64 percent in Seattle and almost 71 percent in King County in October over the same period a year ago as first-time homebuyers rushed to beat the Nov. 30 expiration of an $8,000 federal tax credit, according to the latest numbers released by the Northwest Multiple Listing Service. In the entire 19-county MLS coverage area, pending sales were up nearly 63 percent year-over-year and the median home price was down 7.2 percent to $269,995 – the smallest drop since June 2008.”

Another article in the Seattle Post-Intelligencier, this one published on October 27, 2009, noted that Seattle homes for sale face decreased home prices. According to this piece, which was also written by Gerry Spratt, found that “Home prices in Seattle fell slightly in August compared with July and were down 14.7 percent from a year ago, according to the latest Standard & Poor’s/Case-Shiller home price index. Seattle home prices slipped a seasonally adjusted 0.2 percent in August, but prices were up 1 percent nationally according to the index of 20 major cities. It is the third straight month that home prices were up nationally. Seattle has tended to lag behind the national trend when it comes to home prices. August prices in Seattle were at their lowest point since the 2006 peak.”

A November 5, 2009 article in the Seattle Post-Intelligencier noted that government efforts have boosted real estate in Seattle in recent months. According to this piece, “The Seattle-area market, which has lagged behind the national scene in both the bust and the recovery, will benefit from the new law, experts said. Especially now that current homeowners can get in on the action…If Thursday’s report from the Northwest Multiple Listing Service is an indication, the tax credit has been a big incentive for first-time buyers to get into the market.”