Clark County home sales remained flat in August, bolstering claims that a strong start of the year was artificially inflated by now-expired tax credits.
Buyers closed on only 375 new or existing houses, making this the slowest August in the 20 years that The Columbian has been tracking these sales. The second-slowest August on record was last year, when 496 homes sold, according to the monthly Benchmarks home sales report.
The news is bleak for those eager to sell now, and it could be months or even years before buyers return in significant numbers. But there are a few glimmers of hope for worried property owners.
Home values appear to be stabilizing, and builders are cautiously starting to plan for new construction. Foreclosures are also down from their peak, though they remain high, with one of every 325 Clark County households facing foreclosure in July.
