Archive for February 2022
Higher home prices shutting out some buyers
Lawrence Yun, NAR’s chief economist, recently commented on a CNN report that more supply is needed at the lower end of the market to achieve more “equitable distribution of housing…
Read MoreThat’s Who We R shows how Realtors® make a difference
If you watch broadcast TV you’ve probably seen one of the “That’s Who We R” spots. If not, here’s what it’s all about. The spots are part of a National…
Read MoreJanuary pending sales down 10.9% from December
Pending home sales trended lower for the fifth straight month in January. Sellers OK’d 684 contracts, down 84 from December and 41 fewer than January last year. Pending sales are a…
Read MoreThere’s less than a month’s townhome, condo inventory for sale
January’s Tri-Cities condo market was a lot like the existing homes sector with the inventory situation on steroids. Last month the 37 closings were down from 50 last year while…
Read MoreHome inspections are important; here’s what to expect
Our housing market is truly in uncharted waters. It was only several months ago when almost all the predictions were for a 2022 market that would be competitive but not…
Read MoreLocal commercial real estate up 52%, good outlook for 2022
The Tri-Cities commercial real estate market kicked off the new year with a 52% increase in transactions as last year’s growing demand extended into the new year. Cassie Petzoldt said…
Read MoreLocal cash sales at 10-year low, still higher than U.S. share
The current national Attom Data Solutions report on cash sales is good example of how local market conditions don’t always follow the U.S. model. U.S. cash sales accounted for 30.3%…
Read MoreInto the weeds with January’s home sales report
January’s Home Sales Report was a little like the stereotypical hangover after a big New Year’s Eve Party. The comparison to December’s sales was a sobering 30% decline. The median…
Read MoreDemographics exert more influence on housing market
Demographic dynamics are rapidly becoming a bigger factor for the housing market. Millennials and the elder GenZers are aging into their prime home-buying years. Combined, they account for the single…
Read MoreWatch inventory to see how the market will behave
To get a feel for what the housing market will look like as we head into the prime buying and selling season the metric that stands out is inventory. At…
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