Home market high, inventory low

TRI-CITIES, WA - Demand is high for housing across the Tri-Cities, but companies cannot build fast enough to meet that need.

In the Tri-Cities, the home market is very active.

Buyers are motivated to purchase homes right now, because interest rates are super low. However, there is not a lot of property to be had.

Managing broker, Vicki Westphal said COVID-19 has impacted the sales quite a bit. She said a year ago, they had twice has much inventory as they do now.

Westphal said sellers are focusing on remodeling rather than moving. They are staying put for the time being to see how things unfold in the next few months.

"So, people tend to be staying closer to home and not making as many drastic life-changing decisions which include moving or selling their properties," Westphal said. "So, COVID-19 has definitely affected us in that way. We only recently have been able to start holding open houses again."

She said they have now been able to hold open houses for the last few weeks. Face coverings are required and they can only have so many people inside a home at a time.