Real Estate Roundup YOUR PULSE on the market | 3.2022 Our real estate market continues to simmer with fewer listings, but enough demand to have buyers battling over the best listings.
● Spring is just around the corner,
which means the real estate market will soon shift into high gear. ● Along with changes in weather,
market participants are reportedly hoping for changes in the current real estate-scape. ● Low inventory continues to be a
challenge for homebuyers and according to data from the Northwest Multiple Listing Service. ● Data from the MLS gives a closer
look at the closed sale price escalations for specific counties, compared with the same month a year ago. In King County prices are up by 6.9 percent, in Snohomish County up by 19.17 percent, in Pierce County up by almost 19.32 percent,
in Thurston County up by almost 17.07 percent, and in Spokane County up by nearly 20.6 percent (Spokane Association of REALTORS). ● There is a significant backlog of
buyers looking for a home to purchase and with higher mortgage rates expected, buyers are more anxious to find a home despite inventory shortages and price escalations. ● New construction is ramping up
at unprecedented levels in residential and commercial areas to meet the high levels of demand. ● This may alleviate frenzied
buying conditions and encourage sellers to list their houses.
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