HERE'S YOUR WEEKLY LISTING REVIEW FOR

613 W Knox Ave

Hi Tyler,

Over the past 7 days, we have not had any showings or new buyer activity to report. On the market side, there has been very limited movement, with 104 W Cora Ave successfully selling and no new pending sales for comparable rental properties in the past 30 days. Overall, market activity for investment and rental properties has remained relatively slow. With the recent deferred maintenance now completed and all units fully occupied, the property is in a much stronger position moving forward. These improvements should help stabilize the asset and present it more favorably to prospective buyers. We will continue maximizing the property's exposure across all marketing channels, monitor market activity closely, and keep you informed immediately of any new showings, buyer interest, or significant market 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