Admiral Realty
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Housing prices climb in Tri-Cities
Posted on October 28, 2009
The Tri-Cities area led the nation in housing price growth over the last three years, according to a national financial information and analysis firm.
Fiserv's report on CNNMoney.com says homes in the Tri-Cities grew in value by 8.9 percent over the past three years. Fairbanks, Alaska, was second with a 2.5 percent increase in home value.
The president of the Tri-City Association of Realtors, Glen Clark, told The Tri-City Herald the reason for the increase is simple — jobs. He says the infusion of billions of stimulus dollars has kept the unemployment rate low at 6 percent.
Clark says the Tri-Cities also largely avoided the housing foreclosure catastrophe that crippled many real estate markets across the country.
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