Bellingham Residential Real Estate for February 2013 shows prices are down a bit and number of sales were up from last year, continuing on that roller coaster ride of rising and falling prices.
Looking at the absorption rate chart you can see we are still in a sellers market. The number of homes for sales is still very low. That means there is a limited number of homes for buyers to choose from and that scarcity can even lead to multiple offer situations, which is great for sellers a little more stressful on buyers. I believe the number of sales will start picking up in March, and prices will start rising again as well.
Interest rates are still at all time lows.
The talk in the press is that the housing market is on the rebound. Spring is close by I’m sure that more homes will be coming on the market, it is the number that will determine if it continues to be a seller’s market or turns the other way.