Momentum building as home buyers respond to lower prices, favorable financing
KIRKLAND, Wash. (June 6, 2011) – Northwest Multiple Listing Service members reported a 43 percent increase in pending sales of single family homes and condominiums during May compared to the same month a year ago. Sellers accepted offers from 7,509 buyers last month, up from the year-ago total of 5,242 pending sales.
Year-to-date pending sales are slightly under the total for the first five months of 2010 when sales were boosted by a federal tax credit. Through May 2010, Northwest MLS members had reported 35,454 mutually accepted offers; this year’s total for five months is 33,612 (down about 5.5 percent).
We’re seeing a definite shift in the market – especially in the…