How is the Tri-Cities WA Market Compared to the Nation?
The Wall Street Journal reported that sales of existing, or previously owned, homes sold at a seasonally adjusted annual rate of 4.55 million units in May 2012. While that was down 1.5% from 4.62 million in April, it represented an increase of 9.6% compared with a year earlier and represented the 11th consecutive month of year-over-year increases in sales.
Did the Tri-City area mirror the national statistics? The answer seems to be no. The Tri-Cities actually had an increase in sales over May 2011 (253 units) with 285 homes selling during May 2012. We also experienced an increase in sales from April to May 2012. April sales of 235 jumped to the May’s figure of 285.
While our inventory has been on a steady climb, sales are increasing as well. The homes that are selling are those with the best prices and best condition. Newer homes in the lower price ranges continue to do well.