Listings up, mortgage rates steady, but buyers are still nervous
JOEL MARTIN | Hagadone News Network | UPDATED 6 months, 3 weeks AGO
This home in Moses Lake’s Park Orchard neighborhood, was listed Wednesday on the real estate website Redfin.com at $340,000, the median price for a Grant County home in April.
JOEL MARTIN/COLUMBIA BASIN HERALD
Joel Martin has been with the Columbia Basin Herald for more than 25 years in a variety of roles and is the most-tenured employee in the building. Martin is a married father of eight and enjoys spending time with his children and his wife, Christina. He is passionate about the paper’s mission of informing the people of the Columbia Basin because he knows it is important to record the history of the communities the publication serves. | May 30, 2025 1:20 AM
MOSES LAKE — Listings are up in Washington, and interest rates are holding steady, according to the latest data from the Northwest Multiple Listing Service, which tracks real estate trends for 26 of Washington’s 39 counties.
The interest rate on a 30-year fixed-rate mortgage was 6.86% in May, only a tenth of a percentage point above March and about the same amount less than the 6.94% of a year ago, according to Freddie Mac. Rates peaked at 7.79 in October 2023 and have mostly fluctuated between 6% and 7% since then.
Median home prices remained steady as well, changing by less than a percentage point statewide as well as in the Basin. The median home price in Grant County was $340,000, the same as April 2024, and in Adams County the median price was $310,000, the lowest in the 26 counties NWMLS covered, compared to $331,500 in April 2024.
Active listings showed more activity in Washington, rising 47.4% in April 2025 over April 2024, according to the NWMLS data. Grant County active listings increased almost 60% in that same time period, but only 15% in Adams County.
That didn’t translate to more homes changing hands, however. Closed sales remained the same between April 2024 and April 2025 statewide, although Grant County closed sales increased 21% and went up 4% in Adams County.
The western part of Grant County, including Crescent Bar, Desert Aire and Sunland Estates, had the highest number of active listings in April, according to the NWMLS, and showed an increase year-over-year of 60.34%.
Nationwide, new listings rose 8.4% in May, according to a report from technology-based real estate brokerage Redfin. Pending sales dipped by 2.2%, however, suggesting that buyers aren’t going for what’s available. Fewer Americans are willing to invest in a home with an unpredictable economy and high interest rates, Redfin’s analysis said.
“As the number of sellers continues to outpace buyers, it is not surprising that price growth has slowed,” Steven Bourassa, director of the Washington Center for Real Estate Research, wrote in the NWMLS release.
“Recent media coverage identifies not only socioeconomic uncertainties such as tariffs and inflation, but also the willingness of both buyers and sellers to make concessions as potential factors in final sales prices in the last month,” the release continued.
ARTICLES BY JOEL MARTIN
‘Our favorite time of year’
Shop with a Cop brings smiles to both children and officers
MOSES LAKE — The heavy police presence outside local stores recently wasn’t because of a crime wave. It was police officers engaging in their favorite annual event. “This is one of those times throughout the year that we don't have to go and ask for volunteers to help,” said Moses Lake Police Chief David Sands. “The first day we put it out, I think we got 20-some people say ‘Yeah, we’re in.’ That's just under half the department right away.“
BASIN EVENTS: Dec. 19-27
COLUMBIA BASIN — It’s beginning to look a lot like Christmas, and a lot of people will be spending time at home with their families or at the church of their choice. Still, there are a few things happening around the Basin. Here are some ideas:
Chimney maintenance is essential for safety
MOSES LAKE — With Christmas just around the corner, lots of folks are using their fireplaces for warmth, roasting chestnuts or just a pleasant atmosphere. But before Santa pays your chimney a visit, you should make sure it’s in good working order. Chimney fires are responsible for more than three-fourths of residential building heating fires, according to the U.S. Fire Administration. Regular inspections and cleaning are the best way to prevent that, said Michael Harper, known as The Chimney Guy. “If they’re using (the fireplace) aesthetically – date night, Christmas, New Year’s, show-off times, something in the background here and there, (they should) have it inspected once a year for peace of mind,” Harper said. “If they’re using it two to three days a week religiously through the winter months, they need to have it cleaned once a year.”