“While interest rates seemed to skyrocket overnight, we are not seeing a slowdown in the Eastern Washington apartment market,” said Kidder’s Max Frame. “Between low vacancy rates and rising rents, we expect to see continued buyer demand.”
The counties analyzed in the study include Chelan, Douglas, Kittitas, Yakima, Grant, Lincoln, Adams, Franklin, Benton, Walla Walla, Spokane and Whitman. The city of Spokane saw the most 2nd quarter multifamily transactions with 11 properties solid, followed by Yakima and Kennewick with 4 each.
As prices have increased, sales volume in the region has fallen a bit compared to 2021 with 44 properties sold this year, off the pace of 131 sold last year.
Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.
CRE courses for CE credits
Get CE course credits, centered around all things CRE. View our courses today!