November 2016 who would of thunk it?  Yup, in November we bought more homes throughout the US and at the fastest pace in almost 10 years. To me that simply seems amazing. November, really? we're not supposed to be buying homes in Winter and to buy more homes that anytime in almost a decade??? Well, that is simply amazing!

There are less homes for sale now. 9% less is you look at the data from the National Association of Realtors. Couple that with rising interest rates and you have one hot mess of a housing market if you're trying to buy a home. One could say we have a housing shortage <shudder>......

Nationwide median house price is now $234,000 which is less than the median prices in Pierce, Thurston, and King Counties. $234,000 is 6.8% higher than the median price last year.

Interestingly enough the report states homes in the West (Where Evergreen State Homes exists) actually fell. The lack of inventory is really applying pressure on buyers to up their offers and make sure they are bringing their A Game when it comes to submitting offers.  Who you work with matters. Remember that!

New construction starts fell 18.7% last month (November 2016) the market appears likely to remain tight for the foreseeable future.  Without new homes to move into where are people going to go?

Folks what does this mean to you?

If you're a seller and your home is in reasonable condition you're going to be pleased. You should be able to receive multiple offers and pick the buyer that is the strongest. Make sure your house is market ready and do your homework before you list. Work with your real estate agent and listen to their suggestions on getting your home in the best condition to sell.  The efforts up front will pay off with dollars on the back end.

 

If you're a buyer you really need to have your financial ducks in a row.  Spend the time upfront to pick a lender who will guide you through the myriad of loan programs available to you. Pick a real estate agent who knows the market in the neighborhood you are looking in.  Listen to your experts. Think of this as a team effort. Once your ducks are in a row go shopping and be ready to make an offer when you find a home that meets your needs/wants.  Come in strong with a clean offer that highlights your strengths.  Make the best offer you can and let the chips fall where they may. I don't feel like you should make an offer and expect a counter offer by the seller. What you will find is the seller simply rejects your offer and works with another buyer. Buyers if you're looking for a lender and you want to work with one of the best.  Check out our Go To Lender here.

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We're excited for 2017! there is always something happening in real estate. Remember to check in here to see the latest homes for sale throughout Washington State in the Northwest Multiple Listing Service. Our data is updated every 15 minutes.  Sharing is caring. If you see a home you like here please share it with your friends on your social media sites.  If you like one of our blog posts please feel free to share as well! Our goal is to be your go to resource for everything real estate in Washington State in 2017 and beyond.