When it comes to the housing market, Washington’s bringing the heat.
Ranking in the top 10 states across the country, Washington came in at 7th place, according to a report from Bankrate.
Their report looks at the Housing Heat Index, which analyzes home price appreciation, past-due mortgage payments, job growth, unemployment, cost of living and taxes.
While Washington actually came in lower for its high cost of living and unemployment rate – it received higher marks for home price appreciation.
One of the major factors for the strong housing market is due to more workplaces letting their employees work-from-home, allowing greater flexibility in where they chose to live.
“We are seeing the makings of a renewed affordability migration,” says Mark Vitner, senior economist at Wells Fargo. “The beneficiaries of that shift have largely been the midsized metros in the mountain states of the West.”
Here are the bottom 10 states with the coolest housing economies in the 4th quarter of 2020:
District of Columbia