Recent Housing Market Highlights – Seattle and U.S.

Filed in How's the Market by on July 7, 2013 0 Comments

As we wait for the housing reports that will be coming out in the next week or two, here’s a wrap-up of recent notable real estate market news:

  • Nationwide, distressed sales (short sales and bank-owned homes) made up 18% of existing home sales in May 2013, compared to 25% in May 2012, according to the National Association of Realtors (NAR).
  • CoreLogic announced that U.S. home prices rose 12.2% between May 2012 and May 2013.  (Report and graphics here.)
  • Excluding distressed sales, the same report showed home prices rising 11.6 percent during that time period.
  • Interest rates have edged up to the 4.5% range for a 30-year fixed mortgage.  (Graph here.)
  • The Seattle area low inventory situation may be easing off very slightly – we need the June numbers in order to know for sure, so stay tuned, those are coming out soon.  It’s still a seller’s market with multiple offers abounding, but typically in this area we see proportionately more homes listed during the summer months, while buyer demand eases back a notch.

 

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Irene Nash has been representing Seattle and Eastside home sellers and buyers in real estate since 1999. She and her husband Mike specialize in straightforward communication and providing top-notch staging and photography for every home listing.

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