U.S. Home Prices are Up Again in May

U.S. single family home prices rose in May, the second consecutive month of price gains for the nation. Summer home sales usually contribute to an increase in prices, and home sales this summer have been up. This seasonal effect was expected, but is still a good sign for a beleagured national real estate market. It's the largest price increase since July 2005.

Total West Coast sale prices were up just 0.9%, but the star was King County and the Seattle area. North Seattle alone was up about 20% in sales vs. 2008 and prices are up 4% since January over the whole Seattle market.

Sam DeBord and Brian Wiegand - SeattleHome.com - Seattle Real Estate Brokers - Seattle Homes For Sale

Pending Home Sales Rise For Fourth Consecutive Month

Pending home sales numbers in the U.S. are continuing their upward trend. For the fourth consecutive month, the Pending Home Sales Index rose for residential homes. This index measures signed contracts on homes for sale. Low interest rates, more affordable home prices, and first time buyer tax credits are attributed to the increases in homes under contract.

We haven't seen four straight months of gains since late 2004, so this is a very positive trend in real estate sales. While these transactions may take a bit longer to close with the larger number of short sales and distressed homes, there's no doubt that total closed home sales will rise in the coming months.

Seattle Homes For Sale