Main Line real estate agent Robin Gordon keeps reading about a slowing housing market brought on by rising mortgage rates.

Except she’s not seeing it, writes Ryan Mulligan for Philadelphia Business Journal.

Gordon, an agent with Berkshire Hathaway Home Services Fox & Roach, says the hot market is still plenty hot.

“There are still a lot of bidding wars going on,” Gordon said.

People are talking about interest rates, but it’s still just talk. No one’s slowing down their searches for homes and there are still lots of buyers, she said.

In fact, rising mortgage rates could be bringing a heightened urgency to buy before rates go up.

The 30-year fixed mortgage rate hit a 10-year high in April, topping 5%, still low compared to rates of 6 or 7% decades ago.

Home prices continued a sharp rise in April for the region and inventory is near rock bottom.

The median sale price for homes in the Philadelphia metro area jumped to $325,000 in April, up 10% from a year ago and 21% from the same time in 2020.

Homes continue to sell above their asking price in the region.

Read more at Philadelphia Business Journal about the impact of rising interest rates on home purchases in the region.