Wonderful news! The Northwest Multiple Listing Service reports pending real estate sales in April 2009 were 11.4 percent higher compared to April of 2008. When compared to pending sale figures for March 2009, the April ’09 stats were 21.3 percent higher.
More optimistic news from the NWMLS: real estate inventory in our region is shrinking— it’s 18.3 percent smaller than a year ago. Also, sale prices are showing indications of stabilizing in the more affordable ranges in our market.
In the Million-Plus range, sales are still slower when compared with statistics from a few years ago. However, it appears that it may be due to the limited availability of jumbo loans. With the recent surge in availability of jumbo loan mortgages, it will be interesting to see the sale stats for homes priced over $1 million in coming months.