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According to a new report from the University of Washington's Runstad Center for Real Estate Studies, the state saw an 11.3 percent increase in the number of homes sold in the first quarter of 2012. (AP Photo)

More houses selling in Washington, but prices still down

BY Kim Shepard  on May 10, 2012 @ 1:05 pm (Updated: 2:15 pm - 5/10/12 )

More Washington homes are selling, but prices are staying down.

According to a new report from the University of Washington's Runstad Center for Real Estate Studies, the state saw an 11.3 percent increase in the number of homes sold in the first quarter of 2012, compared with the same period last year.

The first quarter median price fell to $208,300. That is a decline of 8.7 percent from the first quarter of 2011.

"The price declines are very much concentrated in neighborhoods that have significant numbers of distressed properties, either short sales or properties that are foreclosures," says Glenn Crellin, the associate director of research.

In the city of Seattle, Crellin says prices are actually starting to go up.

For a county break down of sales, prices and affordability data click here.

Kim Shepard, KIRO Radio Reporter
Kim Shepard is a news anchor and reporter for KIRO Radio and the office optimist. She's energetic, quick to laugh and has a positive outlook on life.
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Comments (2)


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  • ron prevost wrote...
    It's the sale of foreclosed properties.
    May 10, 2012 4:39 pm
    Used to be that if a home owner owed $185,000 on a $300,000 home, the bank would try to sell it at near $300,000 after foreclosure. NOW, all they want is to turn as quickly as possible. So if the bank expends $185,000, ALL they sell the house for is $185,000 (or even slightly less). . This drives doen prices on all others. Why would a person pay $300,000 when he or she could get a similar house from a bank at half that ???????
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  • Realitycheck wrote...
    It is the banks who are at fault
    May 10, 2012 5:50 pm
    The caused the issue and they are still making it worse by forcing more foreclosures instead of trying to help people that hurt because of the banks fraud to begin with.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • { "Thumbs Up":"1","Thumbs Down":"-1" }