Median Single-Family Home Price Hits 500k
According to the NWMLS (Northwest Multiple Listing Service), the median sales price of single-family homes in King County in June climbed to $500,000, up 10.3 percent from a year ago. The last peak? July 2007, at the start of the nation’s housing bubble, when it hit $481,000. No need to fret though, our sources say the market is completely different this time around (and our sources are usually right). Windermere’s Chief Economist, Matthew Gardner, says, “I do not see the risk of a national housing bubble anywhere in the foreseeable future.” Learn the reasons why in his latest blog post.