Buyers Pour into the Housing Market Amidst Rising Mortgage Rates
Just two weeks ago we predicted that January would be a competitive month as buyers rush to find a home before mortgage rates climb—and that's exactly what we're seeing.
Prices surged last week 16% over 2021, kicking off what could be the most competitive month in housing history.
You can find our full report in this week's housing market update.
Projections are homes listed by March and closing in April will see the maximum number of bidding wars and escalating prices.
According to NWMLS, despite historically low inventory levels, home sales in the Central Puget Sound region increased to levels not seen since 2006, with Pierce and Kitsap counties seeing the most sales…