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Pierce County November 2011 Real Estate Update

The number of residential homes for sale in Pierce County has decreased by about 16% compared to November 2010; while at the same time the number of homes sold has increased 20%. We are still seeing home prices decrease by almost 12%. With record interest rates, more homes are being sold. Last week, interest rates dropped as low as 3.75%. There are a lot of bargains at bargain prices especially in the foreclosure and short sales market. The economy is very slowly showing signs of recovery and I expect real estate will fall very slow behind it. Rents are continuing to increase – making home ownership a much better bargain than renting . Click here for a more detailed report about Pierce County Real Estate.

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