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Office: 509-946-1188

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Home Values

Found 2 blog entries about Home Values.

Tri-Cities Insider September 2017The September 2017 edition of the Tri-Cities Insider provides an update on the local Tri-Cities real estate market, including inventory of active homes for sale, months of inventory, total homes sold and the average sales price.

The information below offers a comparison of the September 2017 market activity vs. the same time period in 2016.

  • Active Inventory was up to 702 units this year compared to 665 in September 2016
  • Closed home sales were on par this year with 409 units sold compared to last year's closed sales at 412
  • Average sales prices this year are up 9.2% compared to September 2016

For a more in-depth analysis, download our full Tri-Cities Insider Report September 2017.

 Tri-Cities Insider Report September 2017

Real

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Mortgage interest rates impact on home values

There is no doubt that historically low mortgage interest rates were a major impetus to housing recovery over the last several years. However, many industry experts are showing concern about the possible effect that the rising rates will have moving forward.

The Mortgage Bankers Association, Fannie Mae, Freddie Mac and the National Association of Realtors are all projecting that mortgage interest rates will move upward in 2017. Increasing interest rates will definitely impact purchasers and may stifle demand.

In a recent study of industry experts, “rising mortgage interest rates, and their impact on mortgage affordability” was named by 56% as the force they think will have the most significant impact on U.S. housing in 2017. If rising rates slow

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