Some Highlights:
- Existing home sales have accelerated to the highest pace since February 2007 at an annual pace of 5.57 million.
- Inventory of homes for sale remains below the historically normal 6-month mark at a 4.6-month supply, down 5.8% year-over-year.
- Median home sales prices rose to $247,700, 4.8% higher than a year ago and replaced the previous peak in May of $238,900.
Looks like August is going to be HOT for home sales! The inventory of
homes for sale nationally is 4.6 months supply. In Pierce County, it's
only 1.6 months and in in King County, it's only 1.1 months supply. The
buyers are frustrated that there is so little to choose from. Might be
time to sell yours!
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