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Kennewick, WA
It’s good to see this month’s market data reflecting what I’m seeing out on the streets. I was telling a buyer recently that multiple offer situations are still very common, but we’re starting to see fewer offers. Why is that happening? For a couple reasons, probably: Rising interest rates are likely keeping some buyers on […]
It could be worse…much worse. That’s the phrase that comes to mind as I look over our latest housing market update. After setting a new record last month, Tri-Cities home prices dropped a bit while the number of available homes held steady. The latter even went up just a tiny bit for the second straight […]
In a late February team meeting, we speculated that Tri-Cities home prices would hit $450,000 sometime this calendar year. Little did we know it would happen so quickly! Yes, that’s an all-time high. It’s the second straight month, and third time in the past seven months, that we’ve hit a new record high for home […]
There was speculation back in November/December that the real estate market would get a serious kickstart as soon as the holidays were over — that buyers and sellers would re-enter the market in January and the rush that normally begins with warmer spring weather would actually start a couple months early. I can’t speak for […]
If you want to know where the Tri-Cities housing market is headed, it’s helpful to understand where it’s been. 2021 was a year unlike any other. Median home prices hit an all-time high, while homes available (what we call “inventory”) hit an all-time low. Coincidence? Not at all! The law of supply and demand applies […]
I’m hesitant to ever read too much into the market stats that we share every January. That’s because the numbers are a reflection of what happened when most of us are more focused on the holidays than anything else. Once we get to Thanksgiving and then into December, a lot of buyers and sellers put […]