Kieley Fox had had enough of cycling through rentals and living with her parents. The 41-year-old single mother found out she was pre-approved for a line of credit that enabled her to buy a new home near Finch Arboretum, making her part of a growing contingent of first-time homebuyers getting into the market even as supply remains low.
A Washington state law has had the unintended consequence of squelching condo development across the state, including in Spokane for developers, who see them as an affordable-housing option in a very tight housing market.
Spokane’s real estate market continues to remain very active with low inventory, high demand and rising home prices. It’s a seller’s market and that is likely to continue across the region this year, brokers and real estate agents say.
First-time homebuyers in Spokane County face a market full of potential opponents in bidding wars and few houses available at an affordable price. What should, and have, local policymakers done to address the issue? And how big is it?
Technology is revolutionizing the real estate industry by making it easier for consumers to buy and sell homes, take virtual tours of properties, compare prices or obtain a home loan.