Home buyers are winning with historically low interest rates and low home prices.

Home sellers are winning with feverish market activity and for those with properly priced and prepared homes … multiple offers! If this trend continues there should be upward pressure on home prices for every homeowner and an improvement in pricing could slow the pace of foreclosures. Finally there are a lot of winners here in the Puget Sound Area.

Washington homebuyers realizing "market may have reached bottom of cycle"

KIRKLAND, Wash. (March 5, 2012) – With spring on the horizon and consumer confidence on the rise, members of Northwest Multiple Listing Service are reporting positive gains in activity. Pending sales for February increased more than 27 percent from a year ago, more sellers are listing their homes, and brokers are reporting an uptick in multiple offers.

Brokers reported 7,623 pending sales during February, the highest volume since August when they notched 7,632 mutually accepted offers. Last month’s tally jumped 27.4 percent from twelve months ago, with 20 of the 21 counties in the MLS service area reporting double-digit gains.

— Excerpts from Northwest Multiple Listing Service press release.

The chart below illustrates this amazing shift in market conditions within the last 12 months.