Housing market holding steady

Housing market holding steady »Play Video
TRI-CITIES, Wash. - KEPR is always keeping you up to date on the housing market and for the first time in six years, the market in the Tri-Cities is staying flat.

Greg Senger has been building houses in the Tri-Cities for nearly three decades, he has seen the local housing economy through the good and the bad, including a rough patch during the recession in 2008.

"I felt very fortunate that I live here, we got a stimulus package in the area, the agriculture has been rockin', it's a great place to have a business," said local builder, Greg Senger.

And for Greg his business is on the up. KEPR compared the first six months of this year's sales, to last year, it's nearly a push.
There's currently 100 fewer listings this year compared to last, continuing the trend of a seller's market. And for builders like Greg, having the market stay constant is a positive.

"For the local builders it's a good thing, it keep us going and not being in a whole big influx of builders coming in and flooding our market," said Senger.

"Historically this is a really good year, good to have those numbers that are consistent with last year, just a good year," said realtor, Travis Davis.

Realtor Travis Davis says he prefers this kind of stability as opposed to fluctuation, it is the common idea, what goes up must come down.

"I'd rather continue on the path we're going than have some kind of weird swing in our market, for stability," said davis.

KEPR learned that building permits Tri-Cities wide are down by about 2%, but prior to June, permits were down 10%, showing the upward trend in the market.

"We're usually a little bit better when it is just steady, when we keep building homes here and you get a more quality built home," said Senger.

Experts say the biggest months for home sales in the Tri-Cities are July through September, they expect to see a 2-3% increase compared to last year's home sales.