It would seem obvious to suggest that 2010 numbers would be better than 2009, but with that being said, the pending home sales number jumped significantly. This kind of activity is a good thing for King County and it also shows that we are continuing the long process of stabilizing. As I mentioned (tweet) on Friday, some local economists are expecting moderate appreciation in 2010.
As seen at DJC.com
Pending home sales up 47% in January
KIRKLAND — Pending home and condo sales in King County shot up 47 percent in January compared to a year ago, while the median price of closed sales dropped nearly 4 percent to $350,000.
The Northwest Multiple Listing Service’s latest report, issued Thursday, shows a similar trend throughout the metro area. Pending sales in Snohomish County were up 42 percent; the median price dropped 9 percent to just under $268,000. Pierce County logged a 13-percent price drop to $205,000, and registered a 15.6-percent hike in pending sales.
Pending Home Sales Definition: A real estate transaction for which a contract has been signed but that has not closed.
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