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.



About the Author ()

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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