So far, the theme of 2012 is that there is definitely a lack of inventory. The housing market has been extremely busy in the low to median price ranges, but the upper middle to higher price ranges are starting to pick up steam too. The fact is, many buyers literally can’t find good homes to buy! Low prices and extremely low interest rates have pulled a lot of buyers off the fence in the first two months of the year. More homes will come on the market as we get into spring but that should be met with more buyers as well. So, it is reasonable to expect brisk activity for at least the next several months.
Since pictures can often tell a better story than words, take a look at this “heat map” for King and Snohomish Counties. It shows how most every MLS area has gone from a “balanced market” with 3-6 months of inventory in February 2011 to a “seller’s advantage” with less than 3 months of inventory as of the end of February 2012. Ignore most of the national news when it comes to housing because real estate truly is local. If you’re thinking about making a move, Call a Realtor with experience who knows your neighborhood to get specific professional advice for your situation.