PASCO, Wash.- The housing boom, now entering its fifth year, shows no signs of slowing, and the diversified economy makes a crash less likely, experts say.
An in-depth look at the Tri-Cities housing market shows that the average sales price of homes has increased nearly 55 percent since 1995. The market took off in 2001 after interest rates reached a 40 year low, and has continued, thanks to a swell of new people coming to the region.
The volatile Tri-Cities economy has experience similar growth in the past, only to see the floor fall out during the early 1980's and '90's. But experts say fear of a bust are unfounded this time around because of a newly diversified economy that is less reliant on Hanford.
To view housing statistics for the Tri-Cities, you can follow the link in On-Air links labeled, "Housing Statistics."