House prices stay on rise in King and Snohomish counties
House prices rose in May in King County for the second consecutive month, prompting market-watchers to employ with greater certainty some words you may not have heard in a good long while:
Rebound. Stabilization. A seller’s market.
The median price of single-family homes sold last month was $362,000, up 0.6 percent from April and a more impressive 4.9 percent from May 2011, according to statistics released Monday by the Northwest Multiple Listing Service.
The year-over-year increase was the biggest since prices peaked in 2007 — and there have been few months since then with any increase at all.
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