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Tuesday, November 8, 2016
Home Sales and Prices Still Climbing
Home sales around Western Washington out gained new listings again in October, fueling competition for scarce inventory and pushing prices higher. Some seasonal slowdown is still expected - and the Nov. 8 elections may be in play as well, according to brokers at Northwest Multiple Listing Service who commented on last month's activity.
NWMLS members reported 9,950 pending sales during October, but they added only 7,591 new listings, the lowest number since January. A year-over-year comparison of pending sales shows there were 633 more mutually accepted offers last month than twelve months ago for a gain of 6.8 percent.
Closed sales improved even more, rising from the year-ago total of 7,769 completed transactions to last month's volume of 8,554 (up 10.1 percent).