Northeast Stabilization (Spring 2017)
As we head into summer, northeast parts of the United States continue to show the onset of reasonable housing growth. New Hampshire and Massachusetts both increased their markets by 6-9% in the past 12 months. Maine, New York and Pennsylvania all grew around 3-6%. States that have shown more modest growth (under 3%) include Vermont, Connecticut and New Jersey.
Did you know that the Northeast houses twice the amount of forests compared to the rest of the country? Other highlights include its strong economy, and easy access to popular tourist destinations (i.e. Niagara Falls and New York City). There’s really no reason to doubt the timeless advantages the Northeast offers its residents, as it slowly inches closer to becoming a “seller’s market” like the West.
While this region is not showing as significant increases in price appreciation, median home growth across the U.S. continues to accelerate year after year. It’s important to note that you can still find affordable and profitable housing in the Northeast. With interest rates at an all-time-low for 2017, the time is right to get serious if you are thinking of buying or refinancing a home.
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