On February 6th, the Northwest Multiple Listing Service reported that "the housing market is healing itself and the numbers are astoundingly good." NWMLS stats show pending sales in January 2012 outgained the same month a year ago by 739 transactions, a 13.7% increase over January 2011. Declining inventory, extremely low interest rates, and positive job growth are contributing to rising optimism among industry professionals, but NWMLS Directors say distressed properties continue to be a drag on the market's recovery. Inventory is down almost 20% from a year ago. Several areas in King County reported declines of 30% or more in the total number of active listings. The NWMLS reported 3,469 closed sales last month, up nearly 8.2% from a year ago when 3,207 completed transactions were reported. For now, home prices are showing mixed signs -- stabilizing in some areas, while declining or increasing in others. "Price increases are muted by short sales and foreclosures that are causing low appraisal values."