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Feb 28

Housing Sales Not Waiting for the Tulips

Not waiting for the tulips this year! Spring has sprung!

tulipsFor all practical purposes, the prime home buying/selling season of Spring, has already sprung. Traffic is increasing at open houses with more buyers out looking at our limited inventory.

Northwest MLS director Frank Wilson says: “It’s almost the perfect storm: low interest rates, low inventory, pent up demand, and a pipeline of sidelines buyers who could not buy because of a past short sale or foreclosure… their two year to three year waiting period is up and they are looking again.”

In Snohomish County, where closed January sales jumped 11.5% from a year ago and prices surged more than 17%, buyers in all price ranges out looking and anxious to buy. Why? Low interest rates, strong employment and economic conditions and solid as opposed to “exorbitant” home appreciation.

Second Home Market Revival

Wilson also said brokers in Kitsap County are starting to hear murmurs of the second home market. “We have buyers looking for second homes along Hood Canal, and we fit the parameters of many Puget Sounders not wanting to drive more than three hours to reach their getaway house.”

Message to would-be sellers: If you’re on the fence, it’s time to jump off. The market conditions are so much in your favor right now!

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