TC Real Estate Values Looking Up

<p>1086 N. Oklahoma St.</p>

1086 N. Oklahoma St.

Some good news for home owners and home buyers in the area today.

The average value of homes in the Tri-Cities has risen several percentage points in the past year.

According to the Tri-Cities Home Builders Association, builders took out 161 new construction permits through February 2013 - that's 15 more than the previous year. 

The Multiple Listing Service reports home values in Pasco increased 4.3 percent since last April.

In Kennewick too, values went up from three to 13 percent, while Richland remains stable.

Century 21 Broker Vicky Monteagudo says there is a good reason for the boost in home values.

"Because of the population's demand, because some of the areas don't have as much new construction growth, it has allowed an upward movement in our price points. Also coupled with low interest rates, it's allowed a buyer to afford much more of a house than what they would typically be able to afford."

Monteagudo also highlighted 'The Nationwide Open House' event this weekend all over the Tri-Cities gives home buyers the chance to window shop about 200 houses in different communities - all in one weekend.