Region's housing market still at 'shock and awe levels' despite rising interest rates

[Yo_Mama_Been_Loggin]

Mortgage rates climbing at the fastest pace in almost three decades has not slowed down the Puget Sound region's white-hot home buying market.

The Northwest Multiple Listing Service's March report, issued Thursday, showed median sale prices declined in only Ferry County in Eastern Washington, and of the 25 other counties only three — Chelan, Cowlitz, Kittitas — had single-digit gains.

Median sale prices for single-family homes among the four metro counties went up between 12.7% in King to $930,0F00 and 25% to $800,000 in Snohomish County. The median prices in Pierce hit $557,000, up 16%, and $538,500 in Kitsap, up nearly 20%.

In King, the Eastside led the way with single-family home prices rising 26% to $1.7 million. The median price was up 17.6% in Seattle to $970,000.

https://www.bizjournals.com/seattle/news/2022/04/07/regions-housing-market.html

[leftieNanner]

1. We are hoping to move to the area this year

Planning to downsize. We were originally looking at West Seattle. Will more likely choose Tacoma. Can get the same little house for $150K less there.

Prices in our area (southern Oregon) are going up too.

Fingers crossed.

[Quakerfriend]

2. Value of our house went up 39% in past year.

In the 16 years prior very little change.
- suburbs of Philadelphia.