According to the Northwest REporter, the Northwest Multiple Listing Service's newsletter, move-up buyers and the extended and expanded tax credits are to thank for the boosted home sales we have been seeing as of late.
Area-wide, pending home sales this November were 31% higher than in November of 2008 and closed sales beat out last years sales by 76% for the month of November but are still no where near the numbers we were putting up during the boom years.
Inventory levels are another factor affecting our local market and in areas in and around Seattle, the level is down more than 16% from a year ago and area-wide we are at our lowest levels in nearly 2 years.
This is good news as we are moving in a positive direction but we still have a ways to go before we have true market stabilization which means that prices will be low for Buyer's for a while to come and if interest rates stay low it will continue to be a great time to buy.
Source: NWMLS Northwest REporter, December 3, 2009
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