Before the coronavirus recession, Utah's housing market was on fire. Then came the COVID-19 pandemic, which prompted residents of Northern California and Seattle to seek affordable housing and more space, and an already popular market became increasingly popular. Dave Robison, former president of the Utah Association of Realtors, summarizes the activity in a simple way. Every boom comes with its downsides, of course.
In some cases, newcomers to the Utah housing market are full of money and willing to raise prices. Where was the highest home price appreciation? In the East Brooklyn submarket, which includes the neighborhoods of Bushwick, Bed-Stuy, Crown Heights and East New York. Seek the services of a legal, accounting, or real estate professional before any real estate transaction. The index surpasses the appreciation of home prices, the metric that most clearly shows the convenience of a housing market.
The residential real estate sector has exploded during the coronavirus recession and Utah has become a particularly attractive market. So where did property values increase the most in New York City in the shortest time? We are back in East Brooklyn, where sellers, after zero to five years, experienced an average appreciation of 86%. As you begin your homebuying process, it's important to know the most popular real estate markets and the advantages and disadvantages of each. Compared to real estate markets like Anaheim and Albuquerque, Colorado Springs homes take much longer to sell.
At the same time, everyone, especially New Yorkers, expects significant home price appreciation when they go to sell. The Housing Heat Index shows how state real estate markets are doing in the coronavirus-driven housing boom and how they could work in the future. While some parts of the United States may already be in a bubble, I doubt that most of the country's markets are in a bubble, even the most popular real estate markets. I work with a couple of real estate investors that I know and trust in the United States, in the markets in which they operate.
As sales times decrease, it's important to find a real estate agent to help you get a home before it's too late. At the opposite end of the list is Louisiana, where price appreciation is one of the slowest in the country and mortgage delinquency is among the highest. Compared to other popular real estate markets, Bakersfield has a lower cost of housing and a wealth of job opportunities.
