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Jan. ’21 Housing Market Update: Tri-Cities Inventory Down 42% In One Year

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The inventory crunch continues. Not only continues, but it’s also getting worse. Still! We’re down to 346 homes available when we did our market snapshot last week. That’s the 4th time in the past 5 months that we’ve set a new low for inventory across the six cities we watch.

For the sake of comparison, here’s what inventory looked like in January the past couple years:

  • January 2020: 601 homes available
  • January 2019: 669 homes available

With inventory at 346 this month, we’re down 42% from January 2020 and 48% from January 2019. What’s crazy is that we may not have hit bottom yet. In the past two years, inventory kept dropping into February and March. Let’s hope that’s not the case this year, because we really need more homes available.

Just like last month, Kennewick and Richland are again at the lowest inventory since we started tracking in 2018. Kennewick’s inventory is less than half of what it was a year ago. Richland’s inventory is a little more than half of what it was a year ago.

Those are the numbers that matter most right now. I’ll say it again: We need more homes on the market. That’s the bottom line as we start 2021.

Please drop us a note if you ever have questions about the housing market here in the Tri-Cities, or even in your specific neighborhood/town/city.

(*Remember that days on market can sometimes be skewed by how new construction homes are processed in the MLS.)

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About The Author
Cari McGee

My husband and I came to the Tri-Cities in 1994, and we thought it would be a temporary stop on our way to larger cities. He was a television sports anchor at the time, and we planned to go wherever the "next step up" took us. Twenty-plus years later, we're still here and we've loved every minute of it! We have two children now, and we've found the Tri-Cities area is a wonderful place to raise a family. It's a great place to do outdoorsy things -- I like to hike Badger Mountain or run along the river path. I also love reading ... by a cozy fire in the winter or a beautiful picture window in the summer (with the A/C on!). I've been a licensed Realtor since 2004. I earned my managing broker's license in 2016, which means I can run my own brokerage, or create a team of real estate agents and supervise them, which is exactly what I did when I formed the Cari McGee Real Estate Team in 2018! We have administrative and marketing personnel, as well as additional agents to serve you. I became a director of the Tri-Cities Association of Realtors Board of Directors in 2016, became Secretary/Treasurer of the organization, and was elected to Vice President in 2019. Want to talk about real estate? Click here to schedule a meeting with me!

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