Photo: Casey Konstantin
Some surprises in the Seattle real estate market statistics released today. First up, Seattle home prices, which surprisingly rose 1.6% in December from November and 11.3% from last year. The big reason? A 14.1% drop in total inventory from November to December, and a coinciding 2.5% increase in sales.
Over at Redfin, they're optimistic that 2014 will bring buyers relief in the form of new listings as new sellers will feel emboldened by the rising prices.
Meanwhile, despite the fact that foreclosures are down 26% across the U.S. this year, that they're actually up 13% in Washington. The state is one of ten that recorded increases in foreclosures in 2013.
· Dwindling Inventory Drove Atypical December Price Growth [Redfin]
· Foreclosures down in U.S., up in Washington state [PSBJ]