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Housing market “warming” as brokers report multiple offers in some areas

KIRKLAND, Wash. (May 5, 2011) – Home sellers around Washington state are starting to a see something that had all but vanished in recent months: multiple offers.

Several directors of Northwest Multiple Listing Service noted they are encountering more bidding wars in certain neighborhoods and price ranges, even though the latest figures show fewer sales and lower prices than a year ago. Shrinking inventory is spurring activity, with some brokers reporting a “shortage of good listings” and “signs of normality.”

Northwest MLS members reported 7,154 pending sales during April, a 24 percent drop from a year ago when buyers were scrambling to take advantage of a federal tax credit

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