Home sales drop in Q4

Home sales in Whitman County fell more than a third in the last three months of 2010 compared to the same period of 2009.

Figures released by WSU’s Center for Real Estate Research showed 390 homes sold in the fourth quarter of 2010, a 37 percent drop from the 620 sold in the fourth quarter 2009.

Glenn Crellin, director of the center, attributed the drop to the expiration of the federal first-time homebuyers’ tax credit, which gave new homebuyers credit on income taxes.

Last quarter sales from 2010, however, nearly doubled the 260 sold in the third quarter of 2010.

Prices remained relatively flat, with the average sale price of $183,700 a two-tenths of a percent increase over last year’s $183,300.

Statewide, the 83,070 homes sold in the fourth quarter of 2010, represent an 18 percent increase from third quarter but a 21.5 percent drop from fourth quarter 2009.