In 2007, Spokane was one of only a few cities nationwide where the median price of a
home increased in value. Contrary to many major markets, "Most of Spokane's
speculative builders dramatically reduced the number homes they will build in
2008," said Robert Henry, President of R&D Construction and board member of
the Spokane Home Builders Association. The result of declining home starts
means that at the current rate of market absorption (the rate at which new
homes are currently selling), the current inventory of new homes will have
been purchased by the first quarter of 2009. Production builders are likely
to continue with far fewer home starts well into 2009. Many builders have
dramatically reduced the pricing of homes that have been completed for
several months. Now is the time to find and negotiate great deals on new
homes. Buyers who have a decent credit rating and are pre-approved are in
excellent position to negotiate with motivated sellers. For a complete
search of homes for sale in Spokane, visit www.DonnaHenryHomes.com
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