home sales

Along with falling prices people aren't buying as many homes as they did last year.

While the sales price is down the number of homes sold is also down.

So far this year 586 homes have sold also a 29% decrease from last year when 825 homes were sold at this time.

According to Cory Bemis, owner of Yakima's John L. Scott Real Estate the 2023 Year to Date Median Home Sales Price in the Yakima is $329,995.

Bemis says 150 homes were sold in November...a decrease from the 222 homes sold in November of 2021.

What's causing the decreases? Many experts say it's the cost of borrowing money.

192 homes sold in May of this year representing a 3.8% increase from the 185 homes that sold in May of last year.

According to Cory Bemis owner of Yakima's John L. Scott Real Estate the median home sales price is up 9% from this time last year selling for an average of $322,500.

Mortgages rates have been rising quickly and expected moves by the Federal Reserve as it tries to tame high inflation

The current median home sales price in Yakima is currently $328,750

Currently the price median price is $318,000 which is an 18.22% increase from last year when the price was $269,000.

Those who are building new homes are having to deal with increasing costs of lumber and other materials as demand is on the rise.