5 Unexpected Things That Predict Housing Market Trends
Buying
While most homeowners understand that it’s wise to evaluate housing market trends before making the decision to purchase, few understand the actual predictors of said housing market trends. As it turns out, they may be a bit stranger than you thought. Read on to learn more about the five strangest predictors of housing market trends today:
Housing Market Trends 101: Five Unique Predictors
1. Fuel prices
While cheap gas is good for commuters, it’s great for home sellers, as well. As gas prices get lower and lower, home values rise significantly. In fact, Florida Atlantic University and Longwood University estimate that homes rise in value by $4,000 for every $1 drop in gas prices – thanks in large part to larger consumer budgets and higher confidence levels across the board.
2. The presence of a Trader Joe’s
You knew that Trader Joe’s sold chocolate peanut butter cups to die for, but did you know that living near one of these grocery stores could actually increase the value of your home? On average, houses that are near a Trader Joe’s appreciate about 40% after purchase. What’s more, the value of these houses is higher from the get-go.
3. Global warming
Yes, it’s true: global warming affects home values. The National Association of Realtors has found that homes located in areas that have experienced little temperature change on account of global warming are worth more than their warm-temperature counterparts. While there’s not much you can do about the location of your home and the impact that global warming has on it, this is a good thing for home sellers to be aware of.
4. Tree-lined streets
Homes positioned on tree-lined streets are worth an average of $7,000 more than their tree-less counterparts. While you likely knew that tree-lined streets were appealing to buyers, few people know just how appealing.
5. The presence of a major sports arena
In places like Seattle, where fans are downright fanatical, homes that are located within walking distance of major stadiums are worth more than their more remote counterparts. Apparently buyers are willing to pay more for a simple game day experience.
