The following article makes some real estate predictions for 2020 for Spokane.
https://www.spokesman.com/stories/2020/may/31/will-the-spokane-housing-market-weather-the-storm-/
Nationwide, COVID-19 has affected housing markets due to economic uncertainty.
In Spokane, more contracts are failing to close. Some buyers have lost their jobs, and lenders are tightening lending standards. Some sellers don’t want to move out upon closing due to fear of doing so during quarantine.
Still, Spokane is a very strong seller’s market. Home prices are up 9.9% in April from a year ago. However, values are down from March of this year, which is an unusual thing to happen in spring.
There is 1.2 months of supply which makes it a seller’s market. A balanced market has a 6 months of supply.
The new Amazon distribution center will add about 2000 jobs. Also, with tech companies stating that they will continue to allow workers to work from home, there will be a temptation for Seattle area worker to Spokane, where they can enjoy a lower cost of living, less traffic, closer proximity to outdoor activities, and yet be one hour away by plane or approximately 4.5 hour by car from their home office.
The recent unrest led to looting and damage to businesses in Seattle but not in Spokane. That too may weigh on some people’s minds when deciding whether to move from the crowded west side of Washington State.