May saw the lowest foreclosure rate the Tri-Cities has seen in almost a year. Sitting at roughly one-percent, we are exactly half of the rates state-wide. Officials tell me this is a key component to a sellers' market. With fewer bank-owned homes going on the market, the higher listings make less competition for you.
"As a home seller in the Tri-Cities, you don't have to compete with as many extremely low numbers, our healthy market is really a big asset to these people who are selling homes in the Tri-Cities," said local realtor Jennifer Schreiber.
Mortgage rates have also spiked recently, but are still considered low.