Mortgage rates in Spokane, and around the U.S., are a hot topic. With buying slowing and most people naming the rate as one of the reasons, it’s no surprise. Here’s the exciting part: when rates fall to 6%, the Spokane real estate market shifts in a big way.
More Buyers Enter the Market
At 6%, around 5.5 million more households nationwide will suddenly be able to afford a home. For Spokane, that means more families, professionals, and relocation buyers looking for homes for sale here in our city.
Even more striking, about 550,000 people are expected to buy within 12–18 months once that shift happens.
What This Means for Buyers in Spokane
If you’ve been waiting to buy until rates drop, you’re not alone. But here’s the catch: when they dip, competition skyrockets. This phenomenon is nothing new. It just makes sense. Lower rates means more buyers ready to jump into the housing market; expect more offers on Spokane homes, quicker timelines, and less flexibility in negotiations.
How can you combat this? Get pre-approved now and be ready to jump when the right Spokane home for sale hits the market.
What This Means for Sellers in Spokane
Thinking about selling? A drop in rates means more buyers actively looking, which can boost showings, offers, and final sale prices. The Spokane housing market thrives on demand, and lower rates bring it in waves. Prepping your home now means you’ll be ready to shine when activity picks up.
Why Planning Ahead Matters
The Spokane market is already competitive, and once rates dip, things move fast. Buyers need a strategy to secure the right property before it’s gone, and sellers need top-notch marketing to stand out among the growing inventory of Spokane homes for sale.
The Bottom Line
Rates won’t stay high forever. When they reach 6%, Spokane will see a surge of new buyers and plenty of movement in the Spokane housing market. Whether you’re buying or selling, being prepared now is the smartest strategy.
📲 Ready to buy or sell in Spokane? Let’s connect and create a plan tailored to you.
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Tanya Starkel, 509.475.9075, Tanya(at)AvenueStoneRealEstate(dotted)com