Spokane Home Sales Showing Promise

The first reports of an uptick in sales of Spokane homes are beginning to trickle in. Let's hope these portend more improvement in the Spokane real estate market.

clipped from www.spokesman.com Home sales rising in West Low prices, mortgage rates boost market for previously owned houses From Staff And Wire Reports The Spokesman-Review Sales of previously occupied homes in the West climbed in February as low mortgage rates and cheap foreclosed properties drew in many first-time buyers and investors, according to two reports released Monday. A total of 68,000 existing homes and condos were sold in February in the 13-state region. Sales were up 24 percent from the same month last year, without adjusting for seasonal factors, according to the National Association of Realtors. Nationally, sales of existing homes grew 5.1 percent to an annual rate of 4.72 million last month, from 4.49 million units in January, the group said. The Spokane Association of Realtors reported the sale of 194 homes during February at an average price of $197,016, off less than 1 percent from February 2008. The median price was $171,654, off 3 percent.