2013 looking up for housing industry

Published On: Jan 18 2013 05:24:23 PM PST   Updated On: Jan 18 2013 06:56:58 PM PST
For sale sign, home, house
SPOKANE, Wash. -

Home sales and prices in Spokane are up and interest rates continue to remain in record-low territory, and real estate agents say if you're on the fence about buying a new home the time to hop over and try it is now.

"It's just going to get better from here so yeah I 'm really optimistic about what 2013 will bring," Real estate broker and owner of Exit Realty, Sabrina Jones-Schroeder said.

Jones-Schroeder is excited this year because she worked through a five-year slump. From 2007 to 2012 home sales and prices slipped month after month in Spokane. Finally, in July of last year, the growth began and has been constant and promising ever since.

"Prices are just coming out of the lowest slump prices we've seen so great rates, nice inventory to chose from a great prices it's the perfect time to buy," she said.

The proof is in the numbers. Sales were up 12-percent in 2012 compared to 2011 and the average home price rose, too, by nearly 6 percent to $177,000.

Real estate experts say this is not only good news for them, but for anyone considering buying a home.

"So many advantages the stars are all like perfectly aligned for buyers, interest rates are still at historic lows no one thought interest rates would stay below four percent for this long and they anticipate staying that way for the balance of the year," Jones-Schroeder said.

It's the perfect combination for first-time homebuyers and those looking to "buy up" too.

"I would encourage folks that are like you're saying tottering or sitting on the fence, at least go talk to a real estate professional, loan officer, find out if you do qualify, because it just may be the best time in history to buy and so why not take advantage of that," Jones-Schroeder said.