Tri-Cities Real Estate News & Views - growth

Richland WA on Top 10 List of Best Places for a Second Career

Recently the US News and World Report issued a new report on the “Top Ten Places to Begin a Second Career.” Many seniors throughout the US will continue to work past the age of 65 because they enjoy working. However, these seniors who enjoy working are having a challenging time finding employment. One of the factors that contribute to the availability of jobs is a vibrant community such as a college/university town or a city where government or healthcare jobs are prevalent.

Among the list of top ten US Cities to start a second career is our very own Richland Washington. One of the biggest reasons for being on the list is the fact that the area added 3,000 jobs to the local economy during the past year, this is new jobs than any other metro area in the…

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Tri-Cities Wa – 5th Top Metro Area for Creating and Sustaining Jobs

California-based think tank company Milken Institute has released a report on the Top US Metro Areas that managed to create and sustain jobs in light of the national recession. The Kennewick-Richland-Pasco area is ranked number five on this list of 13 metro areas for the second year in a row. During the last 12 months, the Tri-City Washington area’s jobs increased by 4.5 percent, which is the highest percentage growth in the nation. This large increase in jobs is due mostly to the stimulus money coming in for Hanford.

President and CEO of the Tri-City Development Council, Carl Adrian says that it is a great thing to have our area out there on a list such as this one because it allows for the planning of ideas for creating broad-based prosperity and the…

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A Closer Look at Tri Cities Real Estate’s Continuous Growth

Properties in the Tri Cities and surrounding areas continue to appreciate over the years.

Local labor statistics indicate a stable, steady economy, with an increase in non-farm employment. The mining, logging, and construction sectors pick up from the previous year, and the manufacturing, leisure, and hospitality sectors are the best performers with a 0.2% increase (preliminary, as of January 2014). The stable economy sustains a healthy properties industry, as value and sales continue to appreciate.

Value of Real Estate Properties
The average sold price for residences has increased to 464% over a 36-year period, from $45,000 in 1977 to $208,772 in 2013. At 9.03 houses sold daily in the previous year, appreciated value remains affordable…

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Tri City Business Leaders Foresee Continuous Growth for the Region

A couple of weeks back, more than 300 Tri Citians were present during the Tri Cities Regional Economic Outlook, and they heard some wonderful news. According to business leaders who attended the meeting, they are expecting a significant growth in tourism, health care, retail, manufacturing, and agriculture. That would mean more jobs for Tri Citians and even for people who are looking at the possibility of relocating to the Tri Cities.

Projected Growth
In 2013, newly opened restaurants, retail stores, booming car sales, and construction of new homes and medical buildings buoyed retail sales in the Tri Cities. Barbara Johnson, general manager of Columbia Center Mall, confirmed this. These industries are set for uphill climbing, along with the local job…

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Tri Cities WA has Strong Market Forecast

The real estate forecast is looking great for the Tri Cities Washington area according to Veros Real Estate Solutions, a Santa Ana, California based technology firm. Veros has predicted that 40% of the major metro areas across the nation are expected to see home prices going up.  This forecast issued by Veros utilizes over 50 factors to enable them to produce trustworthy predictions about market trends. Some of the factors used to predict these market trends include unemployment and housing inventory levels.

One of the projected top five strongest markets is our very own Tri Cities Washington. The Tri Cities – Kennewick, Pasco, and Richland – has been predicted to see a 3.4% increase in home prices. According to Eric Fox, Vero’s vice president of…

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Tri Cities WA Ranked 1 out of 372 Metro Areas for Employment Growth

Recently Garner Economics released a new study on the top metropolitan areas to have experienced employment growth since before the recession. Across the nation about half of the 370+ metropolitan areas are having a difficult time getting their employment back up like it was before the recession began. The Tri City Washington area is not one of those metro areas to be having trouble bouncing back, in fact they are actually ranked number one out of the 372 metro areas. Compared to five years ago the Tri Cities’ employment has increased by 5.4% from its peak employment rate before the recession. This past September employment was up to 102,200 up 5,500 from the previous September.

According to some of our Tri City Development Council representatives,…

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New Home Sales Up in Tri Cities WA Compared to National Sales

New home sales are not doing too well nationwide but in Tri Cities Washington things are continuing to look up. During the month of September the amount of new homes sold in the Tri Cities was 80, an 8 percent increase from the previous month’s new homes sold. When compared to the new home sales throughout the nation which only rose 6.6 percent up from the 297,000 new homes sold in August, the Tri Cities is doing well. The average price of these new homes nationwide during the month of September was $257,500 a little higher than the Tri Cities average sale price of $252, 034.

Not only is the Tri Cities doing well in new homes sold from month to month, but they are also being recognized nationally on several “Top 10” lists. Just recently the Tri Cities…

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