Experts say the impasse is likely the cause of a 41.2 percent drop in year-over-year home sales in June. A total of 478 new and pre-owned houses sold for the month, compared with 813 homes sales in the same month last year, according to “benchmarks,” a tracking service provided by Vancouver’s Riley & Marks Inc. appraisal firm.

Sluggish sales so far have not caused a dramatic reduction in Clark County home values, especially when compared with the rest of the nation.

The median price — half sold for more, half for less — was $249,900 for all homes sold in the county in June, down 3.8 percent from the median price of $259,900 recorded in June 2007. By comparison, June home values fell by 13.6 percent in Southern California, where total home sales declined by 29 percent in the month from one year ago.   

Many Clark County sellers can’t afford to drop their asking prices, said Sharry McNeel, a sales associate with Coldwell Banker Barbara Sue Seal Properties in Vancouver.

“The problem is sellers have loans that they need to cover in order to sell,” said McNeel, who said she is fielding more requests lately to view homes on the market.

Potential home buyers are having problems as well, due to a nationwide mortgage meltdown that has caused many lenders to tighten their standards, said Scott Mikel, a broker and owner of Scott Mikel & Associates real estate firm in Vancouver.

“You have to be a class-A buyer right now to get into a home,” Mikel said.

A down payment, a reliable job, and a good credit history are among the requirements.

“You need a job that can realistically support the payment, and a history of paying your debts,” Mikel said.

Home buyers with the right qualifications will have a wide variety of homes to choose from, McNeel said.

“A few years ago you couldn’t find anything,’ she said. “Now, you can get a really cute house for $200,000.”

Cami Joner covers real estate for The Columbian. She can be reached at 360-735-4532 or via e-mail at cami.joner@columbian.com.