Our state is leading the country in Population Growth. As with any change, population growth brings with it a number of other ancillary affects, both good and bad. Typically, a growing community sees more retail, more opportunities, and more diversity. However, in extreme cases it can also create overcrowding, rising prices, and swelling schools.
When our communities see an infusion of people, new homes must be added to the market to match that growth rate. If new homes can’t meet the needs of a growing population, the demand for existing homes in general creates rising home prices.
In a metropolitan area such as ours, the trends in your specific neighborhood may be entirely different than a neighborhood just a few miles away. Inherently, as our metro area grows, certain areas are more desirable to live in and new neighborhoods become the “trendy” choice for aspiring homeowners.
Because we’re in a metro area that leads the country in population growth, it’s important for you to understand the nuances of your neighborhood. Sitting down with a real estate professional to discuss the current situation with housing trends in your neighborhood is in your best interest regardless if you are in the market to buy or sell. I’d love have the opportunity to discuss the specific trends in your neighborhood with you. Please, call or email me to learn more.