Any leveling off looks like a slowdown in comparison with the past several years, when some buyers paid $50,000 to $80,000 over the asking price and waived home inspections to get the house they wanted, she said.
"People are just waiting for this whole thing to end, so they take any sign of leveling off as, `OK, here it comes,'" she said.
Still, some buyers are continuing to move quickly to get a house in what they perceive to be a hot market.
When first-time homebuyer Bill Daly heard about a house for sale in Federal Hill, he was there within two hours and made an offer within three. He recently settled on the house in the 1700 block of S. Hanover St., which he bought for $314,000 - about $3,000 below the asking price.
"I'd lost houses before for not committing fast enough," said Daly, a 31-year-old settlement officer at Home Title Company Inc. in Baltimore. "We walked in, and I said, `This has everything I want.' I didn't even look at the others."
But Daly, who as part of his job keeps close watch on rising mortgage rates, is realistic about the future.
"I think the market's going to slow," he said. "I don't think people buying now will double their money or anything."