Aren’t you glad you own property in North Central Washington!
While the national news is all about the Case-Shiller reports showing a huge 14% decline for the first quarter from almost every news source, we in North Central Washington are still holding our own with prices that are doing alright according to the most recent data here. Sure, things have slowed from some of the craziness of the last few years, but overall North Central Washington is doing pretty well. Compared to much of the country, things here are doing real well.
Even the MSN article about this latest report, while focusing on all the bad news, acknowledges that North Central Washington is one of the better markets:
In a few places — small cities and towns in scattered places — prices held, demonstrating the adage that all real estate is local. Many of the strong spots were in Texas and on the Gulf Coast, and Rachel Drew, a research analyst at Harvard University’s Joint Center for Housing Studies, attributed their strength to oil-based local economies.
Pleasant small towns that have become lifestyle magnets or where local economies are strong had the strongest growth — places such as Austin, Texas; Wenatchee and Yakima, Wash.; Greenville, S.C.; Ogden and Orem, Utah; and Sioux City, S.D.
“I wouldn’t even call them bright spots,” said Drew, “but places where prices are not declining.”
So, when you’re tempted to grumble about that $4/gallon gas just remember, try to be thankful we’re not located in an area that is going through a real estate melt-down. We’re lucky to be in a pleasant small town that is a lifestyle magnet and has a strong local economy.
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