Source: KREM 2 News —
SPOKANE, Wash. — It can feel like the housing market is constantly changing. Taking a snapshot of the market in both eastern Washington and north Idaho Fall 2022, who do realtors say is on top?
Buyers or sellers?
Our local real estate experts, contributing to the conversation:
- Cindy Carrigan – Spokane Valley Realtor since 2001
- Jacquelynne Sandoval – Spokane Valley Realtor since 2018
- Greg Washington – North Idaho Realtor/Home Builder since 2002
- Marianne Bornhoft – Spokane Realtor/Broker since 1995
In the last five years, realtors watched the pandemic influence the rate at which people bought and sold homes. Some realtors said they even recalled there being only a few weeks of inventory, as buyer demand significantly increased.
“It was a great time to own real estate,” north Idaho realtor Greg Washington shared. “There was so much demand for this area. Values went up over 30% in the last few years.”
Washington said it was surprising how much housing took off during the height of the pandemic.
Now, things are presenting a bit differently. Houses are staying on the market for longer. Still, with two to three months of inventory in both eastern Washington and north Idaho housing markets, based on numbers alone, realtors could call it a sellers’ market.
“We still have very low inventory for the amount of demand we have in Spokane,” Cindy Carrigan Spokane Valley realtor said.
But with the context of coming off an extremely hot, abnormal market, realtors said months of inventory show the markets are normalizing.
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