Tri-Cities Housing Market

By
Commercial Real Estate Agent with Three Rivers Properties

The media for months has been talking about the decline of the housing market and the state of Mortgages, but the truth of the matter is in our communities of Kennewick, Pasco, Richland, West Richland, and Benton City Washington we haven't seen the decline in prices or home sales that other markets have.

In our market we didn't see the dramatic price increases that other markets have.  We stayed at at 3-5% increase a year.  Our median price for a home here is $186,000.

Our inventory of homes is 3-4 months, we have an unheard of amount of Foreclosures because of the Mortgage crisis but even with all that it is still a great time to buy a home in the Tri-Cities area.

We still are one of the most affordable areas for homes in the state of Washington.  The area is fast becoming known for it's wines, and attracts thousands of tourists every year.

 

Comments (1)

Jim Crawford
Maximum One Executive REALTORS® - Atlanta, GA
Jim Crawford Atlanta Best Listing Agents & REALTOR
It is a great time to buy!
Mar 19, 2008 01:40 PM