Spokane Real Estate Market Outperforms Rest of State

The Spokane real estate market really out performed the rest of Washington State in April.

clipped from seattletimes.nwsource.com Wash. existing home sales drop 30% By NICHOLAS K. GERANIOS Sales of existing homes in Washington slumped badly in the first quarter of this year, according to the Washington State University Center for Real Estate Research. The number of existing homes sold in Washington dropped 30.6 in the first quarter of 2009, compared to the same period a year ago, according to a report released Friday by the center. Until recently, Washington had a stronger real estate market than much of the nation. The state also suffered a smaller number of home foreclosures. But prices have been falling steeply recently, and foreclosures are likely to spike because of rising unemployment, Crellin said. Among larger counties, existing home sales dropped 15 percent in King County, 13.8 percent in Yakima County, 7.8 percent in Clark County and 2.3 percent in Snohomish County. Sales stayed roughly the same in the Tri-Cities, and actually increased 2.3 percent in Spokane County.