Three structures at 300 Area of the U.S. Department of Energy's Handford Site are demolished with explosives on Oct. 9, 2010. Handford demolition and cleanup work is helping drive the Kennewick area economy. (Handford/U.S. Department of Energy)
The Kennewick area is one of “10 real estate markets to watch in 2011,” according to Inman News.
“(H)ousing appreciation in the Kennewick area remained modest while the rest of the country was experiencing a boom,” the real estate news service wrote Friday.
The metro area has fairly low unemployment compared to the national rate and was one of three markets on the list to see household income rise between 2008 and 2009. Population and in-migration from other states also rose during that time, each up 4.2 percent. Median sales price in the Kennewick market rose 8.9 percent from fourth-quarter 2009 to fourth-quarter 2010.
And there’s economic strength in Kennewick, Don Havre, broker at The Real Estate Firm there, told Inman.
We are a transportation hub with rail, barge traffic and (a) freeway network. Our economy includes agriculture, with its growing grape/wine market, high-tech companies like Infinia, which manufactures generators powered by the sun’s energy, Pacific Northwest Laboratory, and the Hanford Project.
Speaking of federal projects, the No. 1 market to watch was Washington, D.C. No other Northwest areas made the list.
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