Yakima County Development Association - Yakima County Enjoys One Of The Strongest Housing Markets In The Nation

Jonathan Smith

The President’s Pen is a weekly blog written by Jonathan Smith, New Vision’s President and CEO about local economic development projects and initiatives. It also covers economic trends, workforce issues, business climate policies, and manufacturing news. 

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Yakima County Enjoys One Of The Strongest Housing Markets In The Nation

August 13, 2009

Yakima received national attention this week on ABC’s ‘Good Morning America’ as one of the top five metropolitan markets to sell a home. It even surprised their news anchors considering the other four markets were much larger regions.

 

 

 

This news was no surprise to Zilllow.com spokesperson Amy Bohutinsky, “No markets are out of the woods in the greater recession, but relative to most markets in the country, Yakima is doing quite well,” said Bohutinsky. Many communities have seen an decline in home values over the last five years but 95 percent of homes in Yakima County are sold at a profit. In fact, home values increased an annual average of 4.8 percent over the past five years.

 

 

 

According to Lisa Smith, business development director for New Vision, “Our economy is doing relatively well compared to many areas of the country and our home prices reflect this.  Our region typically follows a slow yet steady growth pattern so our home prices do not dramatically rise or fall when economic conditions change.  This is great news for local home owners that want their investments to hold value and it is also attractive to new people moving into our Valley.  The Yakima Valley is still a place where homes are affordable for most of our population.  And to folks from other areas our real estate prices are often a bargain.”   

 

 

 

Attributed, in part, to the Yakima Herald-Republic

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"New Vision helped us initiate the process to secure low interest bond financing for our expansion project." - Terry Bliesner, Valley Processing