Homes sales in June were up 4 percent from a year ago in June 2008. This is the first increase since the height of the market two years ago. The county hasn't recorded this many sales since October of 2007. Total sales in the southern portions of the county were actually down, while Seattle sales were up 11 percent!
First-time buyers were leading the charge on much of this market activity. But the article from the Seattle Times points out what I've said will happen all along. The people selling to the first-time buyers will eventually buy their next home and create a trickle-up effect.
Prices are still down, however. Median single-family home prices in King County were down 12% in June from a year ago.
Read the full article here.
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