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Recent housing market forecasts for Spokane, Washington suggest that the area is expected to continue moderating toward a balanced market in 2026, with home prices rising modestly or stabilizing rather than spiking.
Home values in Spokane, Washington were relatively stagnant this past year. According to several sources, the median home price in the city actually dipped slightly over the last 12 months or so. Housing analysts are predicting only slight gains over the next few months, helping to balance the market into 2026.
As of January 2026, the median home price in Spokane was $383,289, according to Zillow. That’s 0.2% lower than the same time last year. That said, house values are expected to inch up throughout 2026 as they didn’t the previous 12 months.
This reflects real estate market predictions issued for other Washington cities, as well as the nation as a whole. Housing analysts are forecasting that prices will still increase in 2026, though modestly.
Pro Tip: Check out our Conforming Loan Limits & FHA Loan Limits in 2026 to help you avoid borrowing more than you can realistically repay, protecting you from unnecessary financial strain and long‑term debt.
The ongoing demand and spiking prices in Spokane that were prevalent in years past had much to do with has a lot to do with the tight inventory in the city. There was a major shortage of homes to meet the demand in the city.
But the inventory situation may be easing as we head into 2026. The population of the city continues to grow, which leads to increasing demand for housing.
As of early 2026, inventory has climbed significantly — active listings are up ~30–36% year-over-year, and the months supply sits around the 3–3.5-month range, which is typical of a neutral market where neither buyers nor sellers strongly dominate.
While that’s still not up to where a balanced market would be, it’s a huge improvement from where things were just a few years ago.
Some homebuyer hopefuls looking in the area may have an easier time finding a home within their budget because of this improvement in the housing inventory situation in Spokane.
When home-price appreciation slows, some people view it in a negative light. But that’s not always the case. Home values across Washington rose faster than usual over recent years, posting double-digit gains annually.
That kind of appreciation isn’t sustainable over the long term because it outpaces wage growth and other economic metrics. Under such conditions, housing markets can become unaffordable to a large number of residents.
Thankfully, home price growth slowed considerably and is expected to have a much more sustainable and gradual rise in 2026.
Considering the relatively lower prices in the city compared to other nearby markets like Seattle, Spokane might be a great place to invest in 2026. Buyers looking to build equity relatively quickly may find that they can get in on an upward trend in prices in the city.
Of course, due diligence is necessary before making any large investment in real estate. But based on forecasts on increasing prices in Spokane, now may be a good time to invest in a property in the city before prices continue to soar.
Disclaimer: This article includes forecasts and predictions for the Spokane, Washington real estate market in 2026. Such statements were provided by third parties not associated with our company. We have compiled and presented them here as an educational service to our readers.
At Sammamish Mortgage, we have been providing home loans to clients all over the Pacific Northwest, including Washington State, Colorado, Idaho, California, and Oregon, since 1992. We’re a family-run company based in Bellevue, WA and offer many different mortgage programs and products with flexible qualification requirements, including our Diamond Homebuyer Program, Cash Buyer Program, and Bridge Loans, among many others. Visit our website to use our mortgage calculator or get an instant rate quote. Get in touch with us today if you have questions about applying for a mortgage or to get pre-approved.
Whether you’re buying a home or ready to refinance, our professionals can help.
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