The median home value in Walla Walla is up to $188,400. Walla Walla home values have gone up 3.5% over the past year.
For most of the country, foreclosures will be a factor impacting home values in the next several years. In Walla Walla 0.6 homes are foreclosed (per 10,000). This is lower than the national value of 3.4 and has helped our real estate values continue to rise.
Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Walla Walla is 2.3%, which is less than half. Since 2007 many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Walla Walla homeowners underwater on their mortgage is 13.6%. This again is much lower than the national average.
There are many reasons to optimistic about the future of Walla Walla and our housing trends.