Our Key Message:
The Washington real estate market is a stable and an excellent investment that you get to live in!
Facts About Foreclosures:
The foreclosure rates today are the same as they were 10 years ago. Fewer than one percent of mortgages end in default in Washington state. As of mid-June, sub-prime, adjustable-rate loans represented 20 percent of loans nationally, but just 6 percent of home loans in Washington.
The Market is Strong:
Home appreciation in Washington continues to out-perform the rest of the nation with year-to-year price increases every quarter since the spring of 1995.
The Market is Stable:
Home prices in Washington have increased an average of 8.1 percent since the same time last year. Many counties, however, have experienced price hikes much higher: Chelan 29.8 percent, Okanogan 24.5 percent; Douglas, 22.2 percent; and Lewis 19.3. WSU Center for Real Estate Research (CRER) The demand for median-priced homes has never been greater.
Why Washington Is Different:
The home market isn’t keeping pace with the growth of the state’s population, which is continuing to increase at 1.8 percent per year. The state’s population will increase by nearly one million over the present decade and reach 6.8 million by 2010. About two thirds of the growth is due to in-migration; the rest is a result of the growth of families now living in Washington. Washington State Offi ce of Financial Management
What About Inventory?:
The key to stability in the residential real estate market is balance, where balance is about a six month supply (or inventory) of homes available on the market at any given time.
Who we are:
Washington Realtors® represent approximately 170,000 homebuyers and the interests of more than 2 million homeowners throughout the state. Realtors®’ top public policy priority is building communities that have a strong economy, attractive home choices, great schools and parks, safe neighborhoods, and good transportation choices.
Get The Facts Straight
Contact your REALTOR® for more information
March 4, 2008 at 3:52 am
If we could just get the above $417K segment moving again we would be okay. The tight quals for Jumbos are killing me.