Realtors say: "perfect storm" for buyers and sellers
TRI-CITIES - It's often called called an investment of a lifetime--- and if you've ever dreamed of buying your own home, you could be in luck. New numbers show plenty of first-time home buyers are having their dreams come true. KEPR uncovered it's a trend that's happening in our area as well.
For Jane and Andy, it was about the creative space. Space to host - and the space to run their phone-app business.
"It was a good time, we just found the right house. And we had the money saved up for it, so it seemed like a great choice,” said recent buyer Andy Cassinelli.
The pair recently bought a home in Kennewick. They're part of the growing trend in the local housing market. January and February this year, home sales are up 11%. in the Tri-Cities. A pleasant change after a bruising year.
"It really is a driving force for our entire economy locally,” said local realtor Amy Leicht.
Realtors report higher confidence levels than last year. If you're looking to buy a home, you'll have lower-interest rates on your side.
“People just continuing to tell us -- interest rates are low! Now is a good time,” added recent buyer Jane Cassinelli.
The good rates come with a drop in availability for homes under $250,000. However, realtors say not to assume prices will rise. Many variables play a role. They tell me it's now common to have multiple offers on a house.
“Multiple cash deals on single homes -- even over 450,000,” explained Leicht.
The increased activity comes as lumber prices spike -- up 50% from a year ago. And they're expected to climb higher. That means -- buyers may turn to more affordable resell homes.
All to find a home -- and to build a life.
The boost to the real estate market comes with gains in employment. Nationally -- more than 200,000 new jobs were added in February. Driving the unemployment rate to its lowest levels in four years.
For Jane and Andy, it was about the creative space. Space to host - and the space to run their phone-app business.
"It was a good time, we just found the right house. And we had the money saved up for it, so it seemed like a great choice,” said recent buyer Andy Cassinelli.
The pair recently bought a home in Kennewick. They're part of the growing trend in the local housing market. January and February this year, home sales are up 11%. in the Tri-Cities. A pleasant change after a bruising year.
"It really is a driving force for our entire economy locally,” said local realtor Amy Leicht.
Realtors report higher confidence levels than last year. If you're looking to buy a home, you'll have lower-interest rates on your side.
“People just continuing to tell us -- interest rates are low! Now is a good time,” added recent buyer Jane Cassinelli.
The good rates come with a drop in availability for homes under $250,000. However, realtors say not to assume prices will rise. Many variables play a role. They tell me it's now common to have multiple offers on a house.
“Multiple cash deals on single homes -- even over 450,000,” explained Leicht.
The increased activity comes as lumber prices spike -- up 50% from a year ago. And they're expected to climb higher. That means -- buyers may turn to more affordable resell homes.
All to find a home -- and to build a life.
The boost to the real estate market comes with gains in employment. Nationally -- more than 200,000 new jobs were added in February. Driving the unemployment rate to its lowest levels in four years.
