Recently there has been a lot of talk about home prices and if they are accelerating too quickly. In some areas of the country, seller supply (homes for sale) cannot keep up with the number of buyers out looking for a home, which has caused prices to rise.
The great news about rising prices, however, is that according to CoreLogic’slatest US Economic Outlook, the average American household gained over $11,000 in equity over the course of the last year, largely due to home value increases.
The map below was created from CoreLogic’s report and shows the average equity gain per mortgaged home from June 2015 to June 2016 (the latest data available).
For those that are worried that we are doomed to repeat 2006 all over again, it is important
At Windermere Group One/Tri-Cities, we are so excited to provide backpacks for the backpack station at the Convoy of Hope Tri-Cities event. During the August 13th Tri-Cities Community event, Columbia Park will be a center to end poverty for a day by providing members of our community with free groceries, health and dental screenings, haircuts, family portraits, meals and much more. Learn more about the event here: https://www.convoyofhope.org/outreach/tri-cities
It is official! Windermere Group One has expanded with another office in the burgeoning Southridge area in Kennewick, located right next to Bob's Burgers at 3617 Plaza Way. The Tri-Cities real estate market continues to grow and a Windermere office in the Southridge area is the logical expansion. The added location will better serve and assist the Kennewick home buyers and sellers as well as the agents working in the community. At Windermere Group One, ownership is at the heart of everything we do. Our mantra "Dedicated to Unlocking the Power of Ownership" refers not only to home ownership for our clients, but also to the fact that we encourage our agents & staff to own & gain control of their business, their life and their future. This new location is
Our April 2016 edition of the Tri-Cities Insider provides an update on the local real estate market, including inventory of active homes for sale, months of inventory, total homes sold and the average sales price of homes in the Tri-Cities and surrounding communities. The information below offers a comparison of the April 2016 market activity vs. April 2015.
April 2016 compared to April 2015
Active Inventory was down 33.5% compared to April 2015
Months of inventory this year is down to 1.5 months
Closed home sales decreased 0.3% this year compared to last year
Average sales prices are up 9.7% this year
For a more in-depth analysis, download our full Tri-Cities Insider Report by visiting the market reports page on our website