SPOKANE, Wash. (AP) — Sales of existing homes in Washington rose in the final quarter to 2011, but prices continued to drop.
A report by the Runstad Center for Real Estate Studies at the University of Washington says the rise in sales reflects bargain hunting and the large number of distressed properties in lower-priced neighborhoods.
The number of homes sold was 9.6 percent higher than for the fourth quarter of 2010. But the median price was down 8 percent to $219,700. That’s the lowest fourth-quarter price since 2003.
