In an unusual year, the real estate market has largely been a beacon of positivity. And while activity seemed to come to a complete halt for a brief moment in the second quarter, the buyers quickly got off the bench—to take advantage of low-interest rates, to invest in homes with bigger spaces or larger yards as working from home or home school became priorities. And even as the temperatures began to drop this September, the market remained hot in Q3 with appreciating home prices, low inventory, and buyers eager to find the right opportunity.
Read MoreMany were curious to see how the typically robust spring real estate market would be impacted by the Coronavirus pandemic. Like many sectors of the economy, residential real estate experienced disruption and uncertainty just when things were ramping up.
As guidelines for essential workers evolved, the market virtually paused for a few days, but then took off again after real estate guidelines and practices were adjusted to support social distancing. Despite the changes, housing activity around Western Washington in March showed the volume of new listings added during the month surpassed February’s total, as did both pending and closed sales.
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