Reprint from Elk River Star News & Anoka County Shopper, "Real Estate News by Stephanie Danielson" - 6/11/16 issue.
In their current edition of the Home Price Expectation Survey released last week, Pulsenomics asked this question of the 100+ economists, real estate experts & market strategists they surveyed: “In your opinion, what is the primary driver of recent home value growth in the U.S.?”
The top four survey results are listed below:
-50% surveyed felt that Low Inventory was the primary driver of home value growth.
-20% decided on Low Interest Rates.
-17% felt that Wage & Job Growth was a primary driver.
-4% agreed that Housing Demand was driving the market.
It is very apparent that the lack of inventory in most housing markets has caused home appreciation to increase at greater percentages than historical averages.
But take note - this advantageous seller scenario may soon change for three reasons:
1.) Underwater homeowners have gained enough equity to sell.
2.) Home builders will add to the housing inventory.
3.) High values will prompt lenders to sell off their lingering foreclosure inventory.
Bottom Line: Don’t wait for the additional competition to hit the market! Get your property listed FOR SALE now while prices and demand are high!
Thinking of Selling Your Home? Click HERE to Schedule a Free Market Analysis
“If you are thinking of buying, selling, renting your home, or leasing real estate this year we’d love to hear from you! Working with experienced professionals can boost your profits!”
Acuity Group Real Estate Professionals
564 Dodge Ave Suite A - Elk River MN 55330
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OUR SPECIALTIES: Residential & Commercial Seller and Buyer Services, Property Management & Residential Rentals, Residential and Commercial Investment Property Specialists, Listing & Marketing Specialists, CDPE (Certified Distressed Property Experts), Short Sale Specialists, REO/Bank Owned Sales. Golf course properties, water front properties, acreage & hobby farms, vacant land, condos & townhomes, industrial/manufacturing/retail properties, association maintained properties, senior housing, luxury homes, vacation & secondary housing.
Serving the following Minneapolis Cities & Suburbs: Elk River MN, Zimmerman MN, Big Lake MN, Rogers MN, Otsego MN, St. Michael MN, Albertville MN, Princeton MN, Ramsey MN, Anoka MN, Nowthen MN, Monticello MN, Oak Grove MN, Burns Township MN, Champlin MN, Dayton MN, Hassen Township MN, Coon Rapids MN, Blaine MN, Fridley MN, St. Francis MN, Livonia Township, Andover MN, Becker MN, Baldwin Township, Orrock Township, Plymouth MN, Maple Grove MN, Osseo MN.
Serving the following Minnesota Counties: Sherburne, Anoka, Wright, Hennepin and portions of Isanti County