The 1st half statistics for Whatcom County Real Estate for 2011 show a trend that is generally positive. Home sales are steady and very similar to last years numbers, but the amount of homes for sale has been steadily down from 2010, month over month. In June of 2010 there was 1,846 homes for sale in Whatcom County, compared to 1,579 at the end of June.
Pending home sales this summer have also increased, with 228 pending home sales at the end of June 2011, compared to just 160 pending sales in June of 2010.
These are good indicators that we may indeed be at or very near the “bottom” as far as home values go. Looking at the chart, it appears the Whatcom County Real Estate market is improving in a meaningful way over the last few months. But there is still a steady flow of home foreclosures and shortsales coming on the market, which will keep prices down for the fore-see able future.
In summary, with interest rates at near all time low levels, and home values nearing or at the bottom (depending on price range and neighborhood), this is with out question a good time to buy. For home owners, there is no sign yet of any current rebound in home values..BUT pending home sales increasing this summer, and inventory shrinking, is the first step to prices leveling out, and then slowly appreciating again.