HERE'S YOUR WEEKLY LISTING REVIEW FOR

4853 N Sherman Rd

Hi Tim & Billie,

Buyer feedback has remained consistent with recent weeks. While we haven't received an offer yet, the home continues to attract qualified buyers, which is encouraging in today's slower market. Buyers are taking more time to compare properties and factor in the cost of future updates before making decisions. One positive is that your property remains the most competitively priced among the featured homes in the area. Comparable properties are listed between $790,000 and $950,000, giving buyers an affordable opportunity to own acreage in Deer Park. We'll continue maximizing the property's exposure, following up after showings, and keeping you informed of any new buyer interest or market changes.

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