Okay here we are, heading into the 2014 spring real estate season. It seems we are entering this season with a rather interesting problem. Lack of inventory; too few selling and buyers that are starting to not be able to afford what is for sale. Because of the competitive market that we are in buyers are having to look at lower price points. A recent report from the MLS ( multiple listing service) shows housing prices in the metro puget sound area up in march from a year ago and according to the S&P/ Case-shiller index there has been a more than 12% jump in the average home price on a national level. The reason for the jump in pricing is due to the lack of inventory we are experiencing. We need sellers! Buyers hang in there, the numbers are starting to trend the other way as we roll into this spring season; we are seeing higher numbers of listings coming on every month. Happy Masters week!!
Jason Moon Real Estate Broker with ColdWell Banker Bain. Seattle, WA