July showed a downturn Bellingham Residential Real Estate. The number of sales were up and but price was down from last year and last month. If you take a look at the absorption rate chart you can see there is a balanced market.
There are several factors I think will be driving the market for the next few months. Interest rates are still very low and are expected to stay that way for quite some time. Banks have money and they are lending it. Prices are relatively low and housing inventory is very low, I think these factors will create more demand in the marketplace. I also think that with the presidential election coming up this November things will start to get better in the economy no matter who wins and the market will keep recovering.