HERE'S YOUR WEEKLY LISTING REVIEW FOR

NKA North Valley Rd

Hi Sidney,

We had no new showings or buyer activity over the past seven days. There is no new feedback to indicate a specific concern with the property, and the land market continues to move more slowly than traditional residential properties. For now, I recommend continuing to monitor competing land listings and recent sales. If activity remains limited, we can revisit the pricing and positioning to see whether an adjustment would help generate more interest.

Here's where the market stands. Mortgage rates hit their high for the year this month. Freddie Mac's weekly 30-year average rose to 6.95%, and daily rates from lenders have crossed 7%, the highest we've seen since January 2025. Spokane is holding steady but buyers have gotten more price-sensitive. The data shows our median sale price at about $375K, down 1.7% from last year. Homes are selling in a median of 22 days, and about 41% of listings have had a price reduction.

Looking ahead, Fannie Mae and the Mortgage Bankers Association both forecast rates of about 6.7–6.8% through year-end and into 2027. So they aren't expecting much relief, and forecasts can change quickly. What that means for you: buyers are still out there and still closing, but they're watching their monthly payment closely and comparing homes carefully, so pricing and presentation matter more right now. Let me know what questions you have.

– Haydn