Tri-Cities Home Sales Slump in 2008 - NBC Right Now/KNDO/KNDU Tri-Cities, Yakima, WA |

Tri-Cities Home Sales Slump in 2008

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Kennewick, WA-  2008 turned out to be a less than banner year in the Tri-Cities housing market.

New figures show sales of new and existing homes last year were down 23-percent compared to 2007.

President of the Tri-Cities Association of Realtors Bill Prussing says November was an especially rough month. "November was down almost 40-percent from last year. November, by far, was the worst month of the year."

But Prussing says December's receipts give him reason to be optimistic. Housing sales in December were also down, by 15 percent from a year ago, but Prussing says that tells him the market is beginning to rebound.

The National Association of Realtors says pending home sales were down 4 percent in November, the lowest levels since the trade group began tracking in 2001.