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Home sales back to pre bubble levels

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Home sales back to pre bubble levels

KGMI News Reporting
By Karen Taylor

WHATCOM COUNTY, Wash. – July homes sales both nationally and in Whatcom County are back to pre-2005 housing bubble levels.

Darin Stenvers with the John L. Scott Real Estate office in Bellingham says even though homes prices overall have gone up, the median home price in Whatcom County has dropped several thousand dollars to $250,000.

Play Darin Stenvers on home sales

He says it’s a race against the clock for both buyers and sellers, as Federal Reserve Chairman Ben Bernake has said he will raise mortgage interest rates once unemployment drops to 6.5 percent.

Foreclosure and short-sale homes are at their lowest levels in Whatcom County since 2008.

Stenvers says many local home buyers are realizing there are not too many bargains left out there and they need to act now if they want to buy or sell a home.