New Home Sales & Developments On The Decline In Pasco - NBC Right Now/KNDO/KNDU Tri-Cities, Yakima, WA |

New Home Sales & Developments On The Decline In Pasco

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PASCO, Wash.- Fewer people are moving into new homes in Pasco according to building permit statistics.

NBC Right Now met a woman who moved into a newer home in Pasco four years ago because it cost less than moving into a 40 year-old home in Kennewick, but things have changed. Pasco is becoming just as expensive if not more and now the booming residential bubble is bursting.

"I really hope Pasco develops into a really big city," said Kevin Paulson who was born in the Tri-Cities. "Maybe kind of compete against the size of Spokane or something like that."

It may be a generational thing or may depend where in the Tri-Cities you live, but everyone has a different image of the way the Tri-Cities should look as it further develops. In Pasco, building permit statistics show that new residential home sales are down 33% so far in 2013; that's almost a 17 million dollar difference from 2012.

"I'm shocked...I'm like really surprised that that's what is happening," said Lori Powell, a Pasco resident. "I always had heard the living in Pasco was more affordable."

It was just a few years ago. Developers could purchase a lot of land for 20-25 thousand dollars. Now on average it's more like 50 to 55 thousand according to real estate brokers.

"Pasco's not dropping in value...it's just becoming less affordable to do affordable homes," said Dave Retter a Windermere real estate broker.

While fewer homes are being built, the commercial properties like the ones on road 68 are still coming in. Some people like to see that kind of growth…other's not so much.

"I think more people bring in more business, but as long as we don't have any huge buildings go up," explained Javier Trenidad who lives in Pasco.

If more commercial buildings are going to come that requires more residents. The battle between business and home is one of give and take.

"If homeowners want the amenities to be closer to them…the commercial amenities...we have to have more rooftops," said Retter. "Otherwise the commercial people are not going to go there."

The growth on road 68 is coming, but some of it may come slower than expected. Proposals for future construction were temporarily shut down Monday night at Pasco's city council meeting in a council vote.

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