A recent study released showed Clark County Washington as the 4th most expensive county in the state. The report looked at more than just housing but certainly housing plays a big role in the cost of living. The counties deemed more expensive than Clark were San Juan at #3, Snohomish at #2, and of course the heavyweight King County at #1.
With rates relaxing a bit many buyers can now afford a home that just a year ago was out of reach. Trending into 2025 if these softer rates continue we could see a return to more robust sales in the market. I suspect that this will be both and increase in listings and buyers so prices should see modest growth. These market periods with double digit annual price appreciation is actually not healthy for the market. It is much better to see modest growth in the 2-5% range that allows incomes to keep up. This is what leads to a sustainable long term healthy market.
Vancouver and Clark County continues to see strong population growth in a region that is slowly losing population overall. Multnomah County has seen a substantial loss of people since the 2020 census. Washington County has been dead flat, and Clackamas has only seen a slight uptick since 2020. Meanwhile Clark has exploded with double digit growth over the last four years.
This is great for our local economy. More and more people moving in will help drive local business and bring in employers as well.
It is looking good in Clark County and 2025 has a lot of excellent possibilities.
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