Office Hours

Home Prices in Spokane drop, or rise, depending on which source you’re using

Numbers are supposed to be neutral and generally behave the same, no matter who handles then.

But in many instances, including home sale prices, the numbers vary depending on the source.

CoreLogic, one of the country's leading real estate data gathering firms, said in its recent release that Spokane home prices, including distressed sales, declined by 1.8 percent in July 2012 compared to July 2011.

They also declined by 2.3 percent in June 2012 compared to June 2011, CoreLogic reported.

On a month-over-month basis, home prices including distressed sales, increased by 0.4 percent in July 2012 compared to June 2012.

But ask Rob Higgins of the Spokane Association of Realtors, and the numbers don't line up that way.

As reported last month, Spokane County median sale price jumped to $170,000 in July, up from $159,500 in June, said Rob Higgins.

The SR will pick up the more detailed August numbers in a day or two. But Higgins summarized the key points for the local association:

  •    For August the average and median price actually fell slightly from July.
  •    Compared to August last year the average sold price is up 10.6 percent and the median is up 9.5 percent.

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Tom Sowa
Tom Sowa covers technology, retail and economic development and writes the Office Hours blog.



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