Washington housing market weaker in 1st quarter

SEATTLE — The housing market in Washington slipped in the first quarter of the year, in part because of a low inventory of homes for sale.

That’s according to the Runstad Center for Real Estate Studies at the University of Washington.

The center’s new report found that sales of existing homes in the first quarter were down 7.1 percent from the first quarter of 2013.

But the statewide median home sales price increased 8.2 percent from a year ago, and stood at $248,900 in the first quarter.

Local median home prices in the state are highly variable, ranging from $70,000 in Lincoln County to $419,000 in King County.

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