For the past two years declining home values across the US have left homeowners and potential buyers wondering just where the bottom is and how soon it would come. As it turns out some real estate markets in the US like Detroit Michigan have already hit bottom but who in their right mind would choose to live there.
An Impending Recovery in the Kennewick Real Estate Market?
One bright spot on the Horizon is the Kennewick real estate market in Washington state. It’s a beautiful city of roughly 60,000 residents with a high standard of living and a market that is showing some signs of an impending recovery.
Positive Numbers Hold Out Hope
With only 429 unsold homes on the Kennewick for sale on the Kennewick real estate market it doesn’t have the glut that many similar west coast cities have. Also, while home values have declined in the first two months of 2009, they did so by only 1.7%, which is an improvement over previous months.
New Overseas Buyers?
Also a recent report by CNN has shown a new positive light on all Washington state cities, including of course the Kennewick real estate market. The report outlined that newly rich Chinese are now eying the entire west coast of the US for finally fulfilling the dream of owning a home in the America.
Mild Climate and Familiar Topography
Due to it’s similar topography and mild climate, Chinese have always been drawn to the state of Washington compared to other areas of the US. CNN reported that the only thing holding them back is declining home values but it appears that that may soon come to an end if recent trends in the Kennewick real estate market continue.
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