Tri Cities Washington New Home Construction Up For Fifth Month
Posted by Colleen Lane on
During the past five months new housing construction has risen to almost 2%. This is the highest level since October of last year. The new construction housing industry is expected to help the economy in the Tri Cities; each house being built generates on average three jobs. On the downside apartment construction is way down. Between the months of June and July Apartment construction dropped 13%. Many people are more apt to go into a model home and sign a contract than go rent an apartment. New construction housing looks even better for some with the option of the first-time home buyer tax credit available. Builders and Realtors are pushing to have the credit extended to keep sales up.
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North Richland Washington (99353, 99352) is well known as the heart of science and technology due to its huge contribution to the development of the Atomic bomb. Today, huge efforts to restore the area to its near-original state are being funded by the government.
Richland is also famous for being the site of one of the renowned laboratories, the Pacific Northwest National Laboratory. Its current employees are mainly composed of thousand of scientists, researchers, and other employees making it as one of the area's major economic driver.
North Richland is one of the best destinations due to its strategic location. It is bordered by the Columbia, Snake and Yakima rivers, blessed with rich soil conditions and amazing climate. Just a few reasons…
Home sales are down in the state of Washington during the second quarter when compared to last year during the same time. The median home sale price this year in the second quarter was $265,100 down 9.2% from last year. These numbers though are improvements from the first quarter. The second quarter increase is attributed to the $8,000 first time home buyer credit. The median prices fell in every county but Yakima, Benton, and Franklin counties. In the Tri-Cities the median sale price of a home is $163,900, up 0.3% from last year.