(Redfin Graphic)

The news: Seattle-based real estate company Redfin is forecasting record U.S. home sales of $2.53 trillion this year, saying in a report Tuesday that the 17% year-over-year gain would be the biggest percentage increase since 2013.

What’s driving the market?: According to Redfin, the housing market’s “meteoric rise” during the COVID-19 pandemic has been fueled by low mortgage rates, high demand, and a wave of migration made possible by remote work. March was especially hot, with home values, price growth and selling speed all hitting new heights. Redfin reported the national median home-sale price hit a record high of $353,000 in March, up 17% from 2020 — a record high rate of growth.

Seattle area also surging: The Seattle Times reported last month that the Puget Sound region’s housing market is “on steroids” as prices were up and inventory was disappearing. In March, the median…

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