Home Sales Decline For 4th Straight Month

Tri-Cities home sales declined for the fourth straight month in September. Much of the decline can be attributed to seasonality, but the rate is slightly more than what would be typical.

There are some anecdotal instances of frustrated sellers backing away from the market, but inventory continues increasing. Last month’s sales were up 1.6% from last year, and the year-to-date total is 0.5% higher.

It’s the lowest monthly and year-to-date growth rates since the regional market recovered from the Great Recession. Homes are spending 12 more days on the market than they did in April, when the region had its best demand.