Housing Prices in the Tri-Cities Expected to Continue Rising - NBC Right Now/KNDO/KNDU Tri-Cities, Yakima, WA |

Housing Prices in the Tri-Cities Expected to Continue Rising

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Tri-Cities --  Housing prices have been dropping for months in several major cities.  It has been good news for buyers.  But here at home, the story is much different. 

Realtors in the Tri-Cities continue to see a almost predictable rise in the cost of homes.  It is a trend that has held for as long as seven years.  Rob Ellsworth, an Associate Broker with Windermere Real Estate in Richland, said Friday said that the average selling price for a home in the Tri-Cities this year was 11- thousand dollars more than a year ago.  

He added that annual housing cost increases have ranged around four to five percent for as long as seven years in the Tri-Cities.  And, he said he expects no change in the immediate future.

Meanwhile, there are 200 fewer homes on the market this year than last, while the demand has not changed.  That, said Ellsworth, is a sure sign that costs won't be going down anytime soon. 

For more, contact ruth.johnson@kndu.com

 

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