Puget Sound housing market hits record numbers as prices continue to soar

Despite historically low inventory, the Puget Sound region housing market set records for total closed sales in 2021.

Economist: Unsustainable for Puget Sound home values to be up every year

Newly-released year-end data from the Northwest Multiple Listing Service (NWMLS) showed that “annual sales volume surpassed 100,000 transactions” in the region in 2021, the first time that has ever occurred. In total, 107,354 sales combined for over $75 billion in value, marking a year-over-year increase of roughly 33%.

“Last year’s robust sales came despite record low inventory,” the NWMLS said in a press release. “No month had more than a month of supply.”

Typically, a so-called “balanced market” will

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