Seattle Home Mortgage – Housing sales picking up.

Here in the Seattle Home Mortgage area and nationally housing data that has been released over the past couple of months suggests a housing recovery is near or already underway. Low current mortgage rates along with historically high home affordability and the first-time home buyer tax credit of $8,000 has created a “perfect storm” for a housing turn around.

Housing sales are up, the price of homes has been going up the past five months in a row and the supply of homes for sale are down for both new home and existing homes. Keep in mind, this improved housing data is happening during a recession, raising unemployment and a slight uptick in mortgage rates in the past few weeks, even more reason to believe a turn around has started. This information courtesy of Monitor Rates.com