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Strong Housing Market

Owning a house is the dream of many Americans, but it has grown more difficult now especially since prices have gone very high.

There are many factors that home buyers have taken into consideration when buying a house specially with the weak economy and high interest rates for mortgages.

The demand for housing is very high therefore, the prices in housing seem almost unaffordable and according to the Forbes article the prices will continue to keep rising.

https://www.forbes.com/advisor/mortgages/real-estate/housing-market-predictions/

In Washington State home prices have increased by 15.1% from a year ago and 44.5% over the last two years according to Zillow. Many first time buyers are waiting because they are afraid that there will be a housing market price, but according to an article from Norada Real Estate Investments the demand for housing in Washington State remained strong.

https://www.noradarealestate.com/blog/washington-state-housing-market/ Links to an external site.

https://www.youtube.com/watch?v=iTGz5DtirOs&t=47s

After reading some of the articles and knowing that the house market will continue to rise despite the economy, do you think the middle class could afford paying for a mortgage as they consider the best time to invest in the housing market or will most of them resort to having to rent for the rest of their lives?

If so, despite the rise of interest rates in the housing market, people are still selling and buying homes. Island county is on the 5th place of selling houses quickly. However, thanks to this article on how the housing market could crash, are you willing to risk buying a house?

https://propertyonion.com/education/the-housing-market-could-crash-in-2023/