The Pierce County housing market was mostly flat in June as monthly home sales dipped ever-so-slightly and median prices eked out a tiny gain of more than 1 percent, according to Northwest Multiple Listing Service data released Thursday.
Home sales fell 3.3 percent to 843 units last month from 872 units in June 2011, while median prices rose 1.39 percent to $198,000 from $195,277 in the same year-over-year period, the combined single-family residence and condo data show.
Pending sales also rose modestly, up 3.79 percent, while the total number of homes for sale continued to plunge, down more than 30 percent to 3,789 units from 5,501 units, the combined data show. A decline in inventory levels is thought to be beneficial for the market because it can stimulate demand.
The number of homes newly listed in June also fell, down to 1,276 units from 1,509 units, the combined data show.
JOIN THE DISCUSSION | Register here
We welcome comments. Please keep them civil, short and to the point. ALL CAPS, spam, obscene, profane, abusive and off topic comments will be deleted. Repeat offenders will be blocked. Thanks for taking part — and abiding by these simple rules. A thorough explanation of rules of conduct can be found in our Terms of Service. If you have any questions, including why your comment may not be showing immediately after you submit it, be sure to visit the commenting FAQ.