Economic Outlook on Real Estate
When purchasing a home or planning to invest in some sort of real estate
venture, the concept of return is a highly contemplated concern. Property
buyers hope to purchase a home or building that will not only be suitable
for intended needs (i.e. residential or business), but also will accumulate
in value. When appraised in later years, the house is presumably expected
to have risen in dollar projection, therefore providing a vested area
of continual fortune.
Home values have an outlook of consistent, upstanding market increase.
Within the upcoming years, the values of residences will continue to thrive,
promising home owners the ability to relax under the knowledge of hopeful
profit. Over the past year alone medial value has increased by 3.9%, and
predictions continue to dictate a steady increase of 2.6% in the following
year (Zillow, 2015). Median values through a United States overview show
a constant incline in property worth, since 2012. Projections continue
to soar as real estate statistics not only show convincing return, but
also market health. Even homes holding negative equity, mortgage delinquency,
or foreclosures have been on a consistent decrease from peak numbers.
As of 2015, mortgage delinquency was at a low of 4.8%, and foreclosed
homes at 3.1% (Zillow, 2015). This signifies people purchasing and qualifying
for homes has remained steady, if not increasing.
Zillow. (2015). United States Home Prices & Values. Retrieved from