Brandon Wooten's profile

2023 Housing Market Forecast in Washington State

Seasoned real estate professional Brandon Wooten earned his bachelor’s degree in business management from Hope International University in Fullerton, California. He co-founded The Wooten Family Foundation for Behavioral Health, a nonprofit that provides financial aid to people who can’t afford mental health services. Brandon Wooten owns and serves as a team leader at Wooten & Associates, LLC, a real estate company headquartered in Washington state.

The average home price in Washington, pegged at $562,936 in 2023, indicates a decreasing trend, according to data released by Zillow. The figure accounts for a 1.5 percent decrease from the previous year. The analysis of the data included important factors such as supply-and-demand, interest rates, and economic growth.

On another note, the forecast showed that home prices will increase between 1.1 and 4.5 percent in 10 cities through 2024. These cities are Moses Lake, Spokane, Yakima, Pullman, Kennewick, Walla Walla, Olympia, Bremerton, Mount Vernon, and Longview.

Experts agree that this may be the best time to buy a home in Washington state. They suggest that prospective homebuyers must make quick decisions as demand increases and supply decreases. Sellers, on the other hand, must consider adjusting the asking price or making renovations and repairs to make their properties more appealing to buyers.

2023 Housing Market Forecast in Washington State
Published:

2023 Housing Market Forecast in Washington State

Published: