Home prices are on the rise in King County, according to a real estate industry organization.
The Northwest Multiple Listing Service (NMLS) reported that in 21 out of the 30 “sub-areas” it tracks in the county, higher prices were recorded in May compared to April.
J. Lennox Scott, chairman of John L. Scott Real Estate. said interest rates for loans “are historically low, there’s a healthy inventory of homes to choose from, and the new, higher-conforming loan limits have increased housing affordability.”
NMLS keeps track of the housing market in 19 counties in western Washington.
While median (half higher, half lower) selling prices in most counties are down from a year ago, prices in many areas are stable or increasing, NMLS reported.