The Current Real Estate Market in Spokane: What You Need to Know

The housing market in Spokane has been on a roller coaster ride this past year. Home prices have gone up and down, leaving potential buyers and sellers wondering what to do next. But the good news is that while prices are down slightly month-over-month in some markets, home values are still up almost 10% nationally on a year-over-year basis. That’s great news for both buyers and sellers alike!

For Home Buyers

For home buyers, now is an opportune time to grab a great deal on a house. With home values rising almost 10%, it’s likely that you can find a good deal if you look around. It’s also important to note that mortgage interest rates remain near all-time lows, which makes buying even more attractive. This means that you may be able to get the house of your dreams at an affordable price.

For Home Sellers

For sellers, this is also a great time to list your home because there are plenty of buyers out there looking for their next dream house—and they're willing to pay top dollar for it. A nearly 10% gain is still dramatic compared to the more normal level of appreciation, which is 3–4%. This means that selling now could give you an extra edge over the competition when it comes to getting the highest price possible for your home.

In conclusion, the housing market in Spokane is still strong despite slight month-over-month drops in some areas. Home values are still up almost 10% nationally on a year-over-year basis—which makes now an ideal time for both buyers and sellers alike. For buyers looking for their dream house, make sure to take advantage of low mortgage interest rates while they last! And for sellers interested in listing their home at maximum value, capitalize on this unique opportunity where the market favors them so strongly! If you need help navigating the process of buying or selling your home during these turbulent times, don’t hesitate to reach out and seek professional advice from local real estate experts today!