TACOMA, Wash. — New figures released on Wednesday show that home sales in Pierce County rose in August.
The sales of condominiums and houses have taken a hit in the last few years, but the numbers suggest the real estate market is slowly recovering.
When comparing numbers of home sales in Pierce County from August this year to last year, more homes and condos were sold, and there are fewer of them on the market.
KIRO 7 Eyewitness News reporter Kevin McCarty spoke with experts about the new sales figures and what they mean for people going into the real estate market.
“It doesn’t necessarily say we’ve turned around, and it’s over, but it says we’re close to the bottom and we’re coming back up,” said Craig Hill, president of Tacoma Pierce County Association of Realtors.
According to Hill, the more homes selling, the fewer are available, which improve the prices.
In August 2011, 952 homes were sold in Pierce County, and this past August, there were 983 sales, according to the Northwest Multiple Listing Service.
“There are buyers for those homes right now,” said Kevin Mullen of Windermere.
Real estate experts told KIRO 7 buyers should not expect a boom but a steady growth, and if anyone plans on purchasing a home, they should plan on living in it for several years.
“But if you’re doing it just to make money to try to go buy the next one, yeah, those days are definitely over,” said Mullen.
Both Mullen and Hill said they’d like to see the number of homes for sale increase over the coming months because if things continue to improve, more homes to buy could mean more homes sold.
Source: http://www.kirotv.com/news/news/new-numbers-show-slow-recovery-real-estate-market/nR4R3/
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