Insufficient labor availability, declining building permit totals, and high building costs have been major factors contributing to a slowdown of Spokane-area construction this year.
The economy here is expected to improve in some metrics here in 2024 although it faces persistent challenges in interest rates, inflation fears, and labor shortages.
Elevated interest rates are behind market slowdowns across both commercial and residential real estate sectors in Spokane and Kootenai counties this year.
A flurry of restaurant closures has marred Spokane’s food scene in recent months, with at least seven Lilac City establishments either closing or announcing plans to close since October.