Competition for homes in February among U.S. buyers for this spring heated up for the second month in a row, after news that mortgage rates will go up through 2022, according to OJO Labs, which runs the Movoto by OJO real estate search site. It said that 39.9 percent of homes have sold for more than their list price in February, compared with 36.2 percent in January, an increase from the 30.7 percent in February 2021. The housing market is more competitive now than it was a year ago, with 2022 housing price figures already hitting summer rates. Back in July 2021, 49.7 percent of homes sold above the initial list price. According to OJO Labs, homes that are selling for more than the asking price indicate that multiple buyers are competing for the property. An increasing number of homes in February sold above their listing price in 42 out of …
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