The following analysis of the Eastern Washington real estate market is provided by Windermere Real Estate Chief Economist Matthew Gardner. We hope that this information may assist you with making better-informed real estate decisions. For further information about the housing market in your area, please don’t hesitate to contact me.
The Washington State economy added 96,900 new jobs over the past 12 months, representing an annual growth rate of 2.9%—still solidly above the national rate of 1.5%. Most of the employment gains were in the private sector, which rose by 3.4%. The public sector saw a more modest increase of 1.6%. Even with solid increases in jobs, the state unemployment rate held steady at 4.7% — a figure that has not moved since September of last year. The counties contained in this report added 3,430 new jobs over the past 12 months, representing an annual growth rate of 0.8%.
HOME SALES ACTIVITY
DAYS ON MARKET
This speedometer reflects the state of the region’s housing market using housing inventory, price gains, home sales, interest rates, and larger economic factors. Listing activity increased in Franklin and Benton Counties, which was positive news for buyers in those areas. However, the overall trend remains firmly in favor of home sellers, so I moved the needle a little more in their direction.
Matthew Gardner is the Chief Economist for Windermere Real Estate, specializing in residential market analysis, commercial/industrial market analysis, financial analysis, and land use and regional economics. He is the former Principal of Gardner Economics and has more than 30 years of professional experience both in the U.S. and U.K.