2021 home sellers enjoyed a fast moving market -- almost anything "for sale" moved quickly, due to low interest rates (in some cases, less than 3%) and "WFH" (work from home) making homebuying very attractive to former renters.
2022 -- so far, started out fast once again --homes are going into contract within 3 weeks of listing -- and within a few days, in many cases.
However, in March alone, interest rates soared to almost 5% -- making homebuying unaffordable for many first time buyers. Financially strong buyers, however, are still out there -- anxious to buy a home before interest rates rise again. Here are snapshots of January and February 2022:
