Spokane County Housing Update - Resale Only
FEWER LISTINGS - STRONG INTENSITY
The Sales Activity Intensity™ of new listings going under contract within the first 30 days is at an extreme frenzy level on homes priced up to $350,000, representing 31% of the sales activity. We’re seeing surge sales activity up to $750,000, representing 61% of the sales activity, and healthy sales activity above $750,000.
SALES ACTIVITY INTENSITY™ SCALE
6.06%
4.13%
4.35%
2.89%
UNBELIEVABLE
INTEREST
RATES
3.18%
MONTHS
SUPPLY SCALE
BACK TO TOP
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Spokane County
Housing Update - Resale Only
KEY MARKET INDICATORS MAY 2023 (APRIL RECAP)
The supply of housing remains limited due to a persistent shortage of available homes, as fewer homeowners areputting their homes on the market after locking in low home mortgage interest rates during the pandemic.Those most likely to move in today’s market fall into two large groups: 1. When a life event takes place (job orfamily), or 2. Those with large home equity (retirees, seniors, and those in their home for 4+ years).
Current housing market
Source: Spokane Association of Realtors. MLS. Data is for Resale only. © 2023 John L. Scott Real Estate