Pierce County housing market driven by motivated b

Real Estate

One economic engine is going full throttle despite Pierce County not being anywhere near a full return to life before the COVID-19 pandemic.

A shortage of existing homes for sale is driving up home prices in the prime summer season at the same time interest rates around 3 percent are luring buyers.

New figures released Monday by the Northwest Multiple Listing Service reported the median closed sale price in June for existing homes (excluding condos) in Pierce County was $410,000, up from $396,550 in May and an 8.9 percent increase over a year ago.

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