December 2011 NWMLS Report: Shrinking Inventory
“Healthy marketplaces” emerging with shrinking inventory, favorable financing
NWMLS KIRKLAND, WA. (Jan. 4, 2012) – Home sales finished the year much stronger than they started, with pending sales for the fourth quarter outgaining the first quarter by more than 3,000 transactions for a 21 percent increase, according to new figures from Northwest Multiple Listing Service.
A year-over-year comparison shows December’s pending sales (mutually accepted offers) rose more than 20 percent from a year ago. Northwest MLS brokers reported 5,237 pending sales last month, up from the previous year when they recorded 4,359 transactions.
Last month’s pending volume exceeded the number of new listings (4,604) for the second consecutive month. The last time such an imbalance occurred was November 2006.
Closed sales also outgained year-ago totals. December’s completed transactions were up 7 percent from twelve months ago, rising from 4,430 closings to 4,741. Six counties registered double-digit gains (Grays Harbor, Jefferson, Pacific, Pierce, San Juan, and Snohomish).
Continue reading the NWMLS December 2011 housing news release – click to download (pdf)
