06/04/2010 (6:20 pm)
Tax credits expire, Western Washington home sales plummet
The number of pending home sales in Western Washington plummeted in May as federal tax credits for home buyers expired.
The number of pending sales in the 21 Western Washington counties surveyed by the Northwest Multiple Listing Service (NWMLS) fell to 5,242 last month, down more than 44 percent from 9,438 in April. In King County, the number plummeted to 2,169 from 3,855 a month earlier.
The number of new listings of homes also fell. In the 21-county NWMLS area, they fell to 9,385 in May from 12,664 in April. In King County, the number of new listings fell to 3,480 last month from 5,054 a month earlier.
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