Lack of inventory! I Found a great article on housing wire.com about how the tight inventory is holding back the housing recovery in the Pacific Northwest. Brokers are reporting rising prices on fewer sales in March. Check it out.
Compared to last year, closed sales were about the same as twelve months ago, with 5,753 completed transactions, just slightly above 5,745 closed sales in 2013.
In addition, the median price on last month’s sales of single family home and condominiums that sold across the 21 counties in the MLS report grew 6%, rising from the year-ago figure of $258,500 to last month’s price of $274,000.