DISCLAIMER: While no one can predict the future with 100% accuracy, our team at White Coat Realty is committed to providing you with usable actionable real estate content to help you make smart financial decisions about your Washington real estate investments in 2022.
Source: WA ESD
Thanks to the diverse economy in Pierce county, employment continues to recover from the Covid-19 pandemic at a faster rate.
Economists project homes will continue to appreciate by ~ 7.5% in 2022, less than the crazy 18.1% we saw in 2021, but still well above the national average historically!
Many local economists are predicting the housing market will remain strong in 2022, but growth will be slower than in 2021.
Mortgage rates are expected to increase (possibly by as much as 100bps) in 2022. Higher rates make homes less affordable to buyers which may slow the growth of home prices.