Tri-Cities turning into a sellers market?

Tri-Cities turning into a sellers market? »Play Video
TRI-CITIES, WA - It's one of the primary signs of strength of any economy, the housing market. Now, there are indications the Tri-Cities are getting stronger. Home prices are climbing and property owners are reaping the rewards. KEPR learned there are several reasons for the increase.

DeeDee Stevens has lived in Kennewick for the last six and a half years. Her family has been thinking of moving back to the west side where she grew up. She picked the right time to sell.

"It's proven very well for us, we have done very well, for what we bought it six years ago and what we sold it for we have done very well," said Stevens.

For sale signs continue to pop up in the Tri-Cities. It's now considered by a lot of people to be a sellers market. January is normally a slow month for listings and r ealtors say that's been increasing the last three years. The number of houses sold jumped by 40.

"I feel as good about the Tri-Cities market as any of my previous 34 years of helping people buy and sell homes," said local agent Dave Retter. "Cautiously optimistic is how you should approach the market if anyone is looking to make a move in the next couple of years."

Realtors say buyers are taking advantage of historically-low mortgage rates. That's triggered demand and sellers can capitalize.

"Now is the time if they are thinking of doing something, now is definitely the time to do it," said Retter.

Just Like DeeDee who made a 30-thousand dollar profit on her house.

"We have done really well with it and the interest rates are really low and we are really happy for the people who were able to buy it," said Stevens.

It's one of the first signs of a seller's market since the housing market collapsed more than five years ago.

Realtors and agents tell KEPR that as long as interest rates stay down like they have been - then the market will continue to favor sellers.