Filed Under (Business, News, WSU, Washington) by Jason Ford on August-14-2008

Home sales continued to drag in Washington during the second quarter, but researchers at Washington State University say the sluggish market translated to better affordability.

Homes sold during the second quarter at an annual rate of 89,380 units statewide, sliding 8.5 percent below the sales rate in the first quarter and 31.7 percent below the same time last year. The sales rate during the quarter was the lowest in over 10 years.

While sales declined compared to a year ago in 38 of Washington’s 39 counties, the market was stronger in the second quarter than in the first in eight counties, and unchanged in several others.

The median price of homes that sold from April to June was just under $292,000, down 7.8 percent from 2007 levels, and the sharpest decline since WSU began producing the statistics in 1994.  Average home prices ranged from $111,000 in Adams County to $570,000 in San Juan County.



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