Скачать или смотреть Massive Change in the Spokane Housing Market!

After a couple intense years in the housing market here in Spokane, major changes have begun to take effect in order to combat the continuously challenging housing market, both in the rental and resale space.

We’ve seen headline after headline concerning rising home prices, rising rental rates and now in the last couple months, rising interest rates have started to compound as well.

As of the beginning of the pandemic, home prices have increased 57% and rental rates have increased nearly 50% as well. The Spokane Association of realtors recently stated that they believe Spokane is short about 25,000 housing units in order to get us to a more stable market where rental vacancy would sit between 5-10% instead of 1-2% and the inventory of homes would be around 2-3 months instead of 15 days.

Fast forward to July of 2022 and the Spokane city council has unanimously approved a 1 year zoning change that will allow for small multi family properties to be built on any single family lot.

Let’s go through a few concerns and then the opportunities that this allows for.

0:00 - Introduction
1:25 - Town Houses on Single Family Lot
2:41 - Parking and Noise Concerns
5:00 - Don't Rush in Submitting Offers
6:25 - The Biggest Problem for Most Buyers
7:39 - Conclusion


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