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The Market Trends Toward Spring

With the increase in mortgage rates, the real estate market sees a surge in new listings, reaching a level not seen in nearly three years, says Realtor.com.

Mortgage rates climbed this week after the Federal Reserve opted to maintain its benchmark borrowing rates unchanged. According to Freddie Mac, the average rate for a 30-year fixed home loan rose from 6.74% to 6.87% for the week ending March 21. Despite this uptick, homebuilders remain optimistic about the housing market due to pent-up demand, supply shortages, and expectations of future rate cuts by the Federal Reserve.

Spring has brought positive news for the housing market as well, with a significant increase in new listings. Compared to last year, there was a notable 17.8% surge in sellers listing their homes in the week ending March 16, marking the highest year-over-year growth rate since May 2021. This influx of new listings provides buyers with more options as they enter the spring homebuying season.

Karen Keefe

A savvy Realtor who listens to her clients. Creating positive results are the driving forces that underscore Karen's nearly decade of real estate experience. A resident of Bainbridge Island and Kitsap County for 38 years where she raised her 3 children. . So no matter what property type or price point, she has always been dedicated to offering extraordinary service. Karen is a second generation real estate professional and has been a licensed residential broker since 2006 with roots deeply embedded in Bainbridge Island and North Kitsap for over 32 years.

Karen is dedicated to partnering with her clients, listening to their unique needs and assisting them in navigating a dynamic marketplace with the goal of a smooth and successful transaction. Selling a home is more than sticking a sign in the ground and waiting for the phone to ring. Karen brings a team of professionals with a proven track record; from an award-winning marketing team and professional photography to a gardener and home stager. She has the proven history of making sure the job is done right the first time