We've hit another record. Like it or not, the median priced single family home is $777,000 after breaking January's previous record of $757,000. Is this the top? More records to come? I'll discuss as well as disclose which Seattle neighborhood took home the trophy for largest year-over-year appreciation for the month of February.
Pending Home Sales, which measures signed contracts on existing homes, were down 4.7% in January, which was a miss and a bit disappointing. But the National Association of Realtors said it was mainly due to a lack of inventory, which is down 9.5% year over year. Additionally, the biggest declines were in the Northeast, where sales fell by 9%.