With mortgage rates so low, and
home prices in our area remaining affordable (much more so than a few years ago!)
Not exact matches
It
remains to be seen how the new tax law will affect DFW
area home prices, but the new rules certainly don't favor pricier DFW sub-markets or larger luxury
homes in Denton County.
Home values increased
in all 100 of the metro
areas that were reviewed, while rent
prices had either slowed or
remain stable
in 93 of the metros.
Some economists have forecast that
home prices in the
area will
remain mostly flat
in 2016, after many months of steady growth.
The company's analysts expect
home prices in the
area to
remain more or less flat over the next year, so buyers probably shouldn't expect much equity growth.
Industry experts expected
home values
in San Diego to
remain sluggish
in 2010, as many Realtors continue to report that many inland
areas in South and North County are experienced a reduction
in home values due to the high gas
prices and a significant increase
in home foreclosures.
In the Greater Toronto
Area the median
price of a luxury detached
home remained relatively flat, down about 0.2 per cent at $ 3,522,117, while the median
price of a luxury condo rose more than 10 per cent to $ 1,710,365.
If unemployment
remains persistently high and foreclosure prevention efforts only delay the inevitable, then we could continue to see increased foreclosure activity and a corresponding weakness
in home prices in many metro
areas.»
As for affordable housing, the median
home price in the Phoenix metro
area remains steady at $ 150,000.
«With the tech VC funding spigot flowing slower
in the Bay
Area, San Francisco's luxury housing market has started to soften, yet the market for mid - to lower -
priced owner - occupied and investment
homes remains solid,» according to the report.
So while
home prices in the
area have risen, and continue to rise, the Houston real estate market
remains relatively affordable for the «average» resident.
But
home values
in the Chicago
area remain about 19 percent below where they were before the crash, according to the S&P CoreLogic Case - Shiller
home price index.
Geoffrey Hewings, director of the Regional Economics Applications Laboratory at the University of Illinois, forecast the median
price of
homes in the Chicago
area to rise 8.2 percent
in January, 8.1 percent
in February and 8.4 percent
in March because inventory will
remain limited.
Therefore
home price pressures may fade out
in that
area over the next few months, even if for the moment the
home resale market
remains tight.
Behind the affordable conditions are low interest rates, which today are below 5 percent, and
home prices that, while rising
in some
areas (like booming North Dakota),
remain quite a bit below their peak during the housing boom.
«Parents of young children or individuals without children will look for schools
in up - and - coming
areas, where the influx of buyers could substantially change the schools, due to the increased enrollment and tax base, while the
home prices remain on the lower end,» says Thomas.