Despite some signs of improvement in February, rising prices and ultra-competitive bidding wars have quickly become the new normal for the Puget Sound housing market.indicated that a combination of increased inventory and “a slowing pace of price increases” in February could potentially “ease some of the competitive pressures” prospective homebuyers have seen over the last year.
That comes in the wake of a historic 20-year low in housing market inventory in the Puget Sound region, as pandemic-induced restrictions have begun to lift, and sellers have been more eager to list their homes.
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