Real Estate Roundup YOUR PULSE on the market | 5.2022 Our real estate market continues to simmer with fewer listings, but enough demand to have buyers battling over the best listings.
● Spring is in full bloom and so is
the housing market. MLS brokers reported around 10,000 mutually accepted offers this past month, which is almost a 31 percent jump from February. ● MLS data also shows that during
this past month there was an influx of single-family homes listed, a gain of more than 41 percent from the previous month. ● A closer look at MLS data shows
the closed sale price escalations for specific counties, compared with the same month a year ago. In King County prices are up by 12.73 percent, in Snohomish County up by 25 percent, in Pierce County up by almost 16.04 percent, and in Thurston County up by almost 18.82 percent.
● In addition to the increase in
home prices, mortgage rates are also on the rise. However, brokers reported that this has yet to strongly discourage home sales in most areas across Washington state. ● Consistent with efforts seen in
previous months, homebuyers are making strong offers, waiving inspections, and making sure financing is in place to secure a home in the current conditions. ● In the future, these conditions
may be affected by inventory influxes, job growth, and other economic impacts. It will be interesting to see how these factors interact with the real estate market as the peak season proceeds.
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