Strong demand continues to push home prices higher in the Wenatchee Valley market. The average home price recently surged past the $350,000 mark. New listings are being quickly absorbed by a buyer pool that vastly outnumbers homes for sale. An influx of cash from Western Washington along with persistently low interest rates and a strong economy are contributing to this phenomenon. At present, local experts expect this trend will continue into 2020 and beyond. The valley is in the midst of an economic boom, and investors are betting big dollars on hotels, apartment buildings, commercial developments, and residential subdivisions. The growth is creating opportunities for some, and problems for others. Many first time buyers are being priced out of the market. Rents are at all time highs, too. Prospective home buyers are finding solutions: multi-generational living, co-investing, or renting out rooms to help with the mortgage. In addition, new projects are coming on-line to meet the entry-level demand. These developments feature smaller living spaces and higher density lots. The rapidly changing market calls for innovative housing solutions with the goal of maintaining affordability.
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