What to Know When Buying a House in Washington State: 2026 Update

Timing your home purchase can be helpful to ensure you’re getting a great deal. That said, if you work with a seasoned mortgage broker, any time can be a good time to buy in Washington. 

Washington State experienced a strong seller’s housing market in the last few years, due to rapidly increasing home values and uncertain market rates for buyers. But with prices expected to continue increasing, buyers can take advantage of rapid growth in home equity in 2026.

Here are three important updates to consider when buying a house in Washington State in 2026.

1. Home prices in Washington will give new owners an increase in equity.

You probably already know that home prices in Washington have risen steadily over the last couple of years. It has generated quite a few headlines. In fact, house values in Washington have risen more over the last couple of years than almost any other state in the country.

This is especially true within the Seattle metro area, which saw huge gains over the last few years. But most other cities have experienced steady price growth as well, despite the fact that Seattle home prices have plateaued over the past few months.

According to the real estate data company Zillow, the statewide median home value steadily rose to $587,696 by January 2026. That was a decrease of 0.4% from the same time a year before. Looking forward, the company’s economists predicted that the median home price for Washington may see some increases in median home value, but other areas, like Seattle, would remain stable.

Compare the median home prices in several Washington State neighborhoods from January 2025 to January 2026, according to Zillow:

So, should you buy a house in Washington now, or wait until next year? Current trends and forecasts make a strong argument for buying sooner rather than later. Some prices have plateaued and interest rates are low.

2. Mortgage rates expected to dip.

As of January 2026, mortgage rates are still somewhat high, though they are lower than where they were last year. It is forecasted that the rates should dip throughout 2026, and end off the year at 6% or even lower, as per the Mortgage Banker’s Association (MBA). 

As of January 2026, the average rate for a 30-year fixed home loan sits at 6.15%.

View Washington State Mortgage Rates Jan, 30, Fri, 2026

3. Housing inventory still below “normal” in most markets for 2026.

Inventory is still low for home buyers planning to buy a house in Washington in 2026, and that has been the trend for the last 10 years or so. This trend could continue over the near future, as the current inventory is nowhere near enough to accommodate the high demand among buyers.  

A balanced real estate market has about five to six months worth of supply. That means it would take five to six months to sell all of the homes currently listed for sale, assuming that no new ones came onto the market in the interim. This is also known as the market absorption rate.

Many of the real estate markets across Washington State had less than a two-month supply of homes for sale, as of January 2026. In the Seattle metro area, where housing demand is particularly strong, currently, less than a 2-month supply exists. However, new condo projects are currently being built, and many more are on the way.  This should ease the inventory crisis as well.

Want to Get Pre-Approved For a Mortgage?

Being pre-approved for a mortgage loan in Washington can help you narrow your home search, and could increase your chance for success. Sammamish Mortgage can help. We are a local mortgage company based out of Bellevue, Washington that has been serving the entire state since 1992, as well as Oregon, Idaho, Colorado, and California. We can help you determine which one of our mortgage programs is right for you. Contact us today with any questions you have, get pre-approved, use our online mortgage calculator, or get an instant rate quote.