According to the National Association of Realtors, the sales of existing homes and condos nationwide increased 2% in May from April. Even better, King and Snohomish counties saw a rise of 3% and 5.9% respectively.
This is great news for real estate. Home prices cannot stabilize or grow unless more buyers enter the market. So to see more buyers buying and sales going up is a great thing to see in the market.
Although the news is good, it comes amidst news that prices are still dropping nationally. However, having said that, in King County they are on the rise. Home sale prices increased by 1% in May from April. Condos and Townhome prices have increased 3%. It is not the double digit appreciation we have seen in the past but at least it is up.
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