According to the Kitsap Realtors Association, Washington State's housing market continues to outperform the rest of the nation. Inventory is strong. It is still a good time to buy.
LOW FORECLOSURE RATE
Foreclosure rates today are the same as they were ten years ago. Fewer than one percent of mortgages end in default in Washington state. As of mid-June, adjustable rate loans represented 20 percent of loans nationally,but just 6 percent of home loans in Washington.
STRONG MARKET
Home appreciation in Washington continues to out-perform the rest of nation with regular price increases every quarter since the spring of 1995. Real estate has been, and will continue to be, stable long-term investments.
STABLE INVENTORY
The key to stability in the residential real estate market is balance – a six month supply of homes available on the market at any given time.
WHY WASHINGTON IS DIFFERENT
The home market is not keeping pace with the growth of the state’s population. The state’s population is projected to increase by nearly one million over the present decade and reach 6.8 million residents by 2010. Most growth occurs from within the state – not new residents relocating from other states.
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