King County home prices had dropped $116,000 since last spring, falling to a two-year low in January.
But in February, home prices bounced back as the median sale rose by $45,000 from the month prior, according to new data released Wednesday. It was the first time in eight months that prices actually went up, on a month-over-month basis.
And it was no small increase, either: In dollar terms, it’s the biggest one-month jump since records have been kept.
One month of data does not necessarily guarantee a new trend. But there’s evidence the market could be picking up speed as buyers start slowly coming out of the woodwork: Sales increased 1 percent on a year-over-year basis, a small amount but nevertheless the first increase since April 2018,
