While many parts of the nation are experiencing a soft housing market, the Tri-Cities reported a very good year for 2009.  We experienced a 10% increase in sales from 2008 to 2009. Both the average sales price and median sales price were higher for the Dec 2009 as compared to the same month during 2008.  Unless we start to see more listings in the lower price range, we could have a housing shortage.  Regional builders who do their own land development and specialize in the lower price ranges must have experienced terrific sales.   

Our December 2009 statistics indicate that all price ranges to $325,000 are leaning towards a “seller’s market”.  Above $325,000 we have a market shift towards a “buyer’s market".   Builders who build in the upper price ranges should be cautioned to be conservative in the number of homes built until the market has a correction.

I believe our market has been positively influenced by the tax credit and stimulus money for Hanford Clean Up activities.   It will be interesting to watch the market after the tax credit period expires. 

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