Double digit rise in King County home prices

Double digit rise in King County home prices

King County house prices saw a double-digit increase in June — the first time that’s happened in nearly five years, according to statistics released Thursday by the Northwest Multiple Listing Service.

The median price of single-family homes sold last month was $380,000, up 10.1 percent from June 2011.

Read More on The Seattle Times…

Mortgage foreclosures down in Tacoma in April, but delinquencies rise

Mortgage foreclosures down in Tacoma in April, but delinquencies rise

Foreclosures are down but delinquencies are up in Tacoma.

The analytics firm CoreLogic reported this week that the Tacoma foreclosure rate – for foreclosures among outstanding mortgage loans – fell to 2.12 percent in April, a decrease of 1.04 percent compared to April 2011.

Foreclosures in Tacoma were was lower than the national average of 3.41 percent in April, the company said.

However, the mortgage delinquency rate increased in April, when 9.24 percent of mortgage loans in Tacoma were 90 days or more delinquent. This compares to 8.52 percent for the same period a year ago.

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Downtown Seattle condos are finally filling up

Downtown Seattle condos are finally filling up

The past few years haven’t been good ones for condo developers in and around downtown Seattle…

Now, however, the market finally seems to be bouncing back. Here’s some of the most compelling evidence:

Early this year the biggest downtown project, Escala, began raising prices a hair on some units. And it did so quietly, without the splashy advance announcement developers sometimes make just to scare up business…

Market analysts agree the balance between condo supply and demand has shifted recently — if only because most of the supply, at long last, is gone.

Read Full Story on The Seattle Times…

House prices stay on rise in King and Snohomish counties

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.

Read More on The Seattle Times…

Homebuilders Back at Work in Pierce County

Homebuilders Back at Work in Pierce County

Homebuilders in Pierce County are getting up off the dirt. In the past few months, new homes have started to appear, here and there, across the county. One or two go up at a time, filling in neighborhoods that have sat, pockmarked with empty lots, for almost four years.

The new-home market seems to be at the beginning of a true recovery – one driven by customer demand. Permits shot up in 2010 because of federal stimulus, in the form of a tax credit for new home purchases. But when the credit expired, customers disappeared. Last year was almost as bad as 2009, now viewed as the bottom of the market.

In the first four months of 2012, the rate of permitting for single-family homes is up about 10 percent in the county from 2011.

Read More on The News Tribune…