New report says Inland Northwest has high home building potential

In the report, the Inland Northwest is considered a 'secondary market' and experiences strong growth when primary markets, like Seattle, are perceived to be too expensive for home builders.

SPOKANE, Wash. – The Spokane and Coeur d’Alene area was listed as one of the top U.S. housing markets to watch by the Urban Land Institute.

The Urban Land Institute is a Washington D.C. non-profit that studies real estate and land uses.

In the report, the Inland Northwest is considered a 'secondary market' and experiences strong growth when primary markets, like Seattle, are perceived to be too expensive for home builders, so real estate developers look toward strong emerging markets. According to the report, companies have expanded to locate operations in areas like Spokane take advantage of the relative proximity, lower operating costs, and access to qualified labor.

Spokane/Coeur d’Alene was listed as the third market to watch out of 74 cities. The area was listed 57 out of 78 for overall real estate prospects.

© 2017 KREM-TV


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