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House-price growth accelerates in Cleveland

Dated: 08/29/2018

Views: 6

This study comes from by Michelle Jarboe that shows a nice steady growth in Cleveland Real Estate. Let's get into the details and examples 

"Nationwide prices surpassed their pre-recession peak in early 2017 and are up 10.8 percent, according to Case-Shiller's data. Among the 20 major metropolitan areas highlighted in the report, Cleveland still is lagging, with the most modest rebound of any market."
That shows strength in the Cleveland Market, great steady growth and quality housing stock. Let's face it a lot of local buyers have not seen a good home market for a while. Cleveland is unique because of the variety of residential homes. You can buy a nice ranch home for $100k or $1 Million and they are both in quality areas.
"Compared with a year before, Cleveland-area prices were up 5.1 percent in June. That compared with a 6.2 percent annual gain nationwide. Chicago, New York and Washington, D.C., posted slimmer growth than Cleveland, while prices in all of the other cities rose more rapidly."
I like the 5.1 percent growth and the lower priced homes effect on the housing price numbers. In the cities mentioned above I would dare you to find a nice home for under $250,000. Some of the cities in the surrounding Cleveland real estate marker are land locked and cannot build new homes to get the prices up. That also has to be considered when purchasing a home for equity growth.
Great time to look at buying a home or investing in one. New homes are being built and when they start reselling prices should spike again. I'm Brett 216-703-5740 EXP Realty Ohio and 602-363-6551 EXP Realty Arizona  Over 1000+ transactions and counting

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Brett Young

With over 17 years in the real estate industry, Brett’s primary focus has been on the improvement of housing in neighborhoods . He cooperates well with other brokers and agents that have clients in ....

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