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washington market · WAHomeowners.com

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Region’s home sales up from last year, but prices down

Region’s home sales up from last year, but prices down

Home sales were up last month in King, Snohomish and Pierce Counties, even as median prices continued to fall.

In King County, buyers closed on 1,678 houses in July, up nearly 14 percent from a year ago. Snohomish County saw a similar rise of about 12.5 percent, with buyers closing on 706 homes.

In Pierce County, closings jumped the most: a 25.5 percent increase to 792 closed sales last month.

Read More from The Seattle Times…

New federal home-loan caps hit Kitsap County hardest

New federal home-loan caps hit Kitsap County hardest

Local real-estate agents and mortgage lenders fear a drop in federal home-loan limits starting Oct. 1 will harm an already-weak Puget Sound area housing market and potentially unravel pending deals.

Three years ago, to stimulate the economy, Congress temporarily expanded the maximum home-loan amounts backed by federal guarantees. Those limits expire Sept. 30, and new, lower limits go into effect for pricey housing markets in some 250 counties, including many in California and the Pacific Northwest.

Read Story…

Survey: Spokane is the most affordable, Mercer Island is the priciest



Survey: Spokane is the most affordable, Mercer Island is the priciest

“A survey of 58 real-estate markets in Washington state found that Spokane was the most affordable and Mercer Island the most expensive.

Using listing prices for four-bedroom, two-bathroom houses, the survey by Coldwell Banker Real Estate found a range in the state from an average of $189,551 in Spokane to an average of $1.1 million on Mercer Island.

Statewide, the average was $364,771 and the national average was $293,251.”

-The Seattle Times