As reported by Lillian Dickerson of Inman News, the housing market and the economy at large have taken a wild ride this year, with home prices clinging to historic highs and mortgages hitting rates far surpassing the lows of 2021.
Among that news, comes an analysis by CNBC regarding which states’ housing markets are the most stable. Washington comes up number 2, based on the following details.
2022 Economy ranking: 3
Home price appreciation: 20.1 percent
Housing starts per 1,000 people: 7.3
Foreclosure rate: 1 in 4,965 housing units
Underwater mortgages: 1.2 percent
Although Seattle has often been pinned over the years as a city with a severe housing crunch and
affordability issues, the state’s sustained economic growth has helped place it in a strong position on
this ranking list. Additionally, foreclosure rates and underwater mortgages are quite low.
Contact Betsy to find out what is happening in your local Real Estate Market.