
Housing Market Update: Homes Sell At Fastest Pace on Record—59% Under Contract within 2 Weeks
Growth in homebuying demand moderated as home prices and mortgage rates climbed.
Tim Ellis has been analyzing the real estate market since 2005, and worked at Redfin as a housing market analyst from 2010 through 2013 and again starting in 2018. In his free time, he runs the independently-operated Seattle-area real estate website <a href="https://seattlebubble.com/" title="Seattle Bubble"><em>Seattle Bubble</em></a>, and produces the <a href="https://dispatches.fm/" title="Dispatches from the Multiverse">"Dispatches from the Multiverse" improvised comedy sci-fi podcast</a>.

Growth in homebuying demand moderated as home prices and mortgage rates climbed.

Home prices continued to soar, rising 16% as 39% of homes sold above list price.

The housing market continued to power through the end of winter as home prices rose 17% from last year.

The national median home-sale price rose 14.4% year over year to $336,200 in February, the largest increase seen since July 2013.

The average sale-to-list price ratio passed 100% for the first time as home prices surge.

Home sales were up 18% from 2020 and home price gains hit a new record of 16% despite widespread winter storms and rising mortgage rates.

Growth in homebuying demand moderated as home prices and mortgage rates climbed.

Home prices continued to soar, rising 16% as 39% of homes sold above list price.

The housing market continued to power through the end of winter as home prices rose 17% from last year.

The national median home-sale price rose 14.4% year over year to $336,200 in February, the largest increase seen since July 2013.

The average sale-to-list price ratio passed 100% for the first time as home prices surge.

Home sales were up 18% from 2020 and home price gains hit a new record of 16% despite widespread winter storms and rising mortgage rates.