3 Reasons To Invest In Real Estate In Washington
As the rest of the country experiences declines in the real estate market, Washington remains a hot area – and there are no signs of slowing down. Moreover, Washington state offers a wide variety of reasons that will make it difficult for the region to lose real estate drive any time soon.
In this article we’ll review why Washington is likely to drive a consistent housing demand for years to come. Then we’ll give you a rundown of some of the best counties and cities to expand your real estate venture.
Washington Real Estate – Evergreen?
With lots of rain and west coast humidity, Washington is known as a dense, green state – thus its nickname as the Evergreen State. But while no one has a crystal ball or guarantees about any market, Washington has a handful of specific features that make it close to an “evergreen” real estate market.
1. Headquarters to Many Top Companies
Washington has added its name to Silicon Valley as a top hub of high-paying jobs and headquarters of many huge American corporations. Amazon, Microsoft, Boeing, Costco, Nordstrom, Starbucks, and T-Mobile are just a few corporate heavy-hitters.
With massive workforces supplying these companies alone, Washington will likely maintain a higher demand than the available housing supply.
2. Higher Wages and Market Growth than US Average
With a thriving job market comes better wages, and Washington boasts both higher economic growth and higher average wages than the US average. This attractive job market continues to draw in new people, particularly after the Work from Home movement and the Great Reshuffle of relocations.
3. More Affordable Place for Temperate Weather
Washington’s relatively temperate climate, lush green forests, and breathtaking Pacific coastline offer many top priorities for homeowners. And as Californians continue to seek an escape from a stifling housing market, Washington is a no-brainer relocation destination.
It’s clear that Washington will continue to attract more people to an already bursting housing market for the foreseeable future. Prices may not rise as quickly as 2020-22, but they will continue to grow more sustainably.