No Obligation and transparency 24/7. Instantly compare live rates and costs from our network of lenders across the country. Real-time accurate rates and closing costs for a variety of loan programs custom to your specific situation.
Are you thinking about buying a home in Spokane, Washington in 2026? If so, keep reading. We have compiled a variety of statistics and trends to help you get a sense of where the Spokane real estate market is now – and where it might be going.
Seattle may be known as the hottest housing market in Washington State. But while it is certainly a desirable place to live, there are several other nearby markets that offer amazing opportunities at a fraction of the price, and that includes Spokane.
Here are five things you should know about buying a home in Spokane, with an emphasis on mortgage rate trends and housing market conditions.
According to Zillow, the median home price in Spokane sits at $385,151 by early 2026. That’s roughly the same as where the average price was at the same time last year. However, experts forecast a steady yet modest increase in home prices in Spokane in 2026.
Spokane remains an affordable location for home buyers, especially when compared to most cities in the western part of the state. The median home value in Seattle, for instance, is currently $832,857.
Spokane has one of the highest affordability rankings in the state. This is good news for those who are thinking of buying a home in Spokane in 2026.
Related: Average down payment in Spokane
After a period of cooling from earlier rapid gains, Spokane home prices are forecast to increase modestly or remain relatively flat in 2026 rather than skyrocket. Several real-estate projections suggest limited appreciation of roughly 0 % to low single digits — markets may see growth between about 0 % and +2 %–3 % through the year if demand continues and mortgage conditions stay stable.
Granted, this is just a forecast. So you shouldn’t get too wrapped up in the numbers. The point is that economists expect home prices in Spokane to rise (to some degree) through 2026. This is not surprising, given the current inventory situation in the city. Which brings us to item #3…
According to the local Realtors association, Spokane had about a 3.1-month supply of homes for sale during early 2026. That is well below the six months of supply that’s considered to be a “balanced” real estate market. So it seems that Spokane is still very much a sellers’ market, according to local real estate professionals.
This is a trend we are seeing across the state of Washington, and it will affect those who are planning to buy a home in Spokane in 2026. It’s common for homes in desirable areas to elicit multiple offers within days of being listed for sale – and sometimes within the very first day.
As a result of these housing market trends, those planning to buy a home in Spokane in 2026 should be prepared for stiff competition. Even with additional construction in the area, the supply-and-demand situation will likely favor sellers for the foreseeable future.
In February 2026, Freddie Mac reported that the average rate for a 30-year fixed home loan was 6.11%. Rates have declined slightly over the last few months and are nearly 1.0% lower today than they were the same time last year. It’s forecasted that rates could continue to trend lower throughout the next few months.
In 2026, mortgage rates are expected to dip to 6% or even lower by the end of the year, according to the Mortgage Bankers Association. That is important information for anyone who is looking to buy a home in Spokane in 2026.
Housing and mortgage rate forecasts are the equivalent of an educated guess. There’s always a chance they could prove inaccurate over time. But the general consensus seems to be that mortgage rates and home prices in Spokane will increase in the months ahead.
Real estate professionals in the Spokane area stress the importance of pre-qualifying for financing, before entering this competitive housing market. And this is an area where we can help you.
Our company has been helping home buyers across Washington State for decades. We can review your financial situation to determine if you’re a good candidate for a mortgage loan. We could also pre-approve you for a loan, to give you an advantage in the market. Please contact our staff with any mortgage-related questions you have, or to get the process started.
If you have any queries about home loans in Spokane, Washington or any other part of the Pacific Northwest, Sammamish Mortgage can help. We are a family-owned and operated mortgage company serving the Pacific Northwest since 1992. We currently lend in all of Washington, Colorado, Oregon, Idaho, and California, and are pleased to offer many mortgage programs and flexible qualification criteria. Visit our website to get an instant rate quote or to use our online mortgage calculator. Get in touch with Sammamish Mortgage today to have your questions answered or to get pre-approved!
Prices have levelled off over the past year, though are expected to rise modestly over the coming months.
A mix of affordability, outdoor lifestyle, and population growth from out‑of‑state buyers keeps demand strong.
Yes — Spokane remains significantly more affordable than markets like Seattle or Bellevue.
Competition varies by neighborhood, but well‑priced homes can still attract multiple offers.
Inventory remains tight, with fewer new listings than needed to meet buyer demand.
Higher rates have slowed some activity, but many buyers remain motivated due to Spokane’s relative affordability. Plus, rates have dipped over the past year and are expected to continue a slow downward trend over the coming months.
Yes — Spokane’s price points and loan‑program options make it appealing for first‑time buyers.
Yes — Spokane has ongoing new‑build communities, though prices can be higher than older resale homes.
Days‑on‑market vary, but competitively priced homes often move quickly.
Limited inventory and rising borrowing costs are the main hurdles for many buyers.
Whether you’re buying a home or ready to refinance, our professionals can help.
Mortgage Support — 24/7
No Obligation and transparency 24/7. Instantly compare live rates and costs from our network of lenders across the country. Real-time accurate rates and closing costs for a variety of loan programs custom to your specific situation.
Adjust the parameters based on what you want to track