NEW LISTING INVENTORY UP 16%
PENDING SALES UP 10%
CLOSED SALES UP 22%
PRICES UP 13% YTD
WELL-PRICED HOMES CONTINUE TO DRAW MULTIPLE OFFERS AND SELL AT A BRISK PACE AROUND WESTERN WASHINGTON AS BUYERS REACT TO INCREASES IN INTEREST RATES AND ASKING PRICES.
Northwest Multiple Listing Service reported double-digit gains in several key indicators it tracks for the 21 counties in its service area. Compared to a year ago, the number of new listings climbed 16 percent, pending sales increased about 10 percent, closed sales jumped nearly 22 percent, and prices rose more than 13 percent. Despite gains in listing activity, inventory remains tight.
Commenting on the latest report, brokers said the fast pace is frustrating some buyers…