Shutdown curbs local home sales, prices rise
Puget Sound real estate brokers said the federal government’s partial shutdown was responsible for the slip in October pending home sales.
According to the Northwest Multiple Listing Service, there were 8,086 pending deals (mutually accepted offers) during October, down from the year-ago total of 8,312 sales. Eleven counties had fewer pending sales last month than a year ago.
The shutdown apparently had no effect on prices. The average price of single-family homes sold in King County last month rose to $426,000, a 15 percent increase over 2012. October prices also rose in other counties. The average price was $293,894 in Snohomish County, $236,761 in Pierce County and $286,658 in Kitsap County.
Northwest Multiple Listing Service includes more than 21,000 real estate brokers. The organization, based in Kirkland, currently serves 21 counties in Washington state.