HERE'S YOUR WEEKLY LISTING REVIEW FOR

1217 W Central Ave

Hi Nancy,

We had 6 private showings, along with an open house. Buyer feedback has been consistently positive, with several agents commenting that the home is well maintained, shows nicely, and is priced fairly. One buyer ranked your home as their second favorite out of five they toured, ultimately choosing another property because it had a larger kitchen, a bigger primary bathroom, and needed fewer basement updates. They still loved the yard, spacious lot, and felt the home was warm, inviting, and well cared for. Other buyers simply felt it wasn't the right fit for their needs rather than identifying major concerns. While we have not received an offer yet, the steady showing activity and positive feedback are encouraging. We will continue maximizing the home's exposure, follow up with showing agents, monitor the market closely, and keep you updated on any new buyer interest or significant developments.

On the broader economic side, June brought some encouraging news as inflation eased, with the Consumer Price Index (CPI) declining 0.4% from May, largely driven by a 5.7% drop in energy prices. While this is a positive step toward improving overall economic conditions, it has not yet translated into a meaningful increase in buyers' purchasing power. Mortgage rates continue to hover in the mid-to-upper 6% range, and higher borrowing costs are still limiting how much many buyers can comfortably afford each month. Nationally, existing home sales declined 2.4% in June, highlighting that affordability remains one of the biggest challenges facing today's buyers.

Here in the Spokane area, we're seeing those same affordability challenges reflected in buyer behavior. Inventory has grown substantially, with more than 3,600 active listings currently available across the MLS and nearly 1,500 new listings added in May alone. Buyers simply have more options than they have had in several years, allowing them to be much more selective and patient before making a decision. Instead of stretching their budgets, many are focusing on homes that offer the strongest overall value, balancing price, condition, location, and anticipated future repair or renovation costs.

– Haydn