CNNMoney.com Reports Unexpected Rise Of New Home Sales

CNNMoney.com reports an unexpected rise in new home sales in November. While sales are down 15.3 percent from the boom of 2005, November sales reflect a 7 percent increase over the this year's low in July. The increase may be an indication that the new home market has bottomed out. Read the full story...

December Market Report

David Lereah, National Association of Realtors chief economist, said a fairly steady pace of home sales can be expected for the next two months. "It's important to focus on where the housing market is now - it appears to be stabilizing, and comparisons with an unsustainable boom mask the fact that home sales remain historically high - they'll stay that way through 2007." he said. "In addition, a temporary correction in prices distracts from the fact that it is primarily the number of homes sales that affects the economy, and the number for this year will be the third highest on record." How do local home sales stack up to this prediction?

Active listings in King County increased by 2,185 homes or 32 percent compared to the same time period in 2005. Sales decreased in November by 12 percent or 3794 homes. The average market time increased by 32 percent during the same time period. The average sales price is 12 percent higher than November.


Snohomish County statistics look very similar. The number of active listings increased by 35 percent from November a year ago. And sales decreased by 220 homes or 16 percent with market times increasing 20 percent or 9 days.

The average sales prices in November increased by 15 percent compared to a year ago, while the year-to-date prices are up 10 percent or $366,019.



When thinking about selling your home, be sure to give me a call. I have the market knowledge and expertise needed to help you price your home correctly thus assuring a successful sale.

Statistics compiled by the Northwest Multiple Listing Service and are deemed accurate but not warranted.

Self.com Ranks Seattle Area 18th Healthiest City For Women

Self.com has released it's 2006 survey ranking the nation's 100 healthiest metro areas for women. This year the Seattle-Bellevue-Everett, WA metropolitan area has ranked 18 out of the top 100.

Our local area scored high points for healthy eating habits, the amount of park space available and is among the five best states for access to birth control and abortion.

We didn't fare so well for weather with 78 fewer days of sunshine than the average. Seattle-Belluevue-Everett has the fewest hospital beds per capita of anywhere on SELF's list and is among the 10 highest for drinking rates.

Interest Rate Freefall

Mortgage interest rates continued to fall this past week according to Freddie Mac. The Primary Mortgage Market Survey for the week ending December 7, reveals rates on a 30-year fixed rate mortgage to average 6.08 percent, down from the previous week's 6.14 percent.

"Continued signs of slowing in the housing market and weakness in the manufacturing sector helped keep mortgage rates down this week," said Frank Nothaft, Freddie Mac vice president and chief economist.

These low interest rates can make your dream of a new home for the holidays a reality. You can view all King County and Snohomish County real estate listings at WashingtonMLSSearch.com. Help yourself and enjoy.

Renovation Wizard

Americans are home improvement happythese days. This may or may not be a good thing. CNNMoney.com can help you evaluate your home improvement project and determine if is will be worth the money you will be investing. Will the improvement add value to your home or are you just throwing money down the drain.

One thing to think about when considering an improvement project is whether or not the improvement will over improve the house for the neighborhood. Does the improvement make the value of the house out of line for the rest of the neighborhood making it impossible to see a return on the cost of the improvement? The renovation wizard cannot assess the improvement in relation to the neighborhood, but an experienced Realtor who knows the neighborhood can. That experienced Realtor is me. Simply, give me a call. I am glad to assist you with your evaluation.