An article in the Seattle Times detailed statistics released by the Northwest Multiple Listing Service for the month of September. While the median price in King County slid by 7.8% compared to September of 2007, it is an improvement over August's numbers, and the number of pending sales is up 15% from a year earlier. These are small, early indications that the market may be beginning to bottom out.
With the recent financial news, the market will continue to change of course. Rates are still very good and could possibly improve with the recent drop in the Federal Funds rate (though the past year's rate drops have had little effect on mortgage rates). Home prices are also back to levels seen in March of 2006. If you are interested in buying a house (and of course have the ability), the buyer's market may be peaking.
