ATTOM’s Real Estate Sales Trends for Pennsylvania
Pennsylvania Could Be the Next Boom State
ATTOM’s real estate sales data demystifies the Pennsylvania housing market so that investment decisions are based on historic trends, recent sales, and better future predictions.
The Pennsylvania real estate market has been impacted by chronic inventory shortages, which have driven up prices in recent history. Real estate in Pennsylvania has increased in value for approximately eight consecutive years.
While the COVID-19 pandemic threatened to stall the Pennsylvania real estate market initially, and the government lowered interest rates to spur buying, the setback was temporary. More recently, the local real estate market has been active, although inventory remains low. Once new properties hit the market, there is potential for the state of Pennsylvania to be one of the hottest states for investors.
Foreclosures are a concern in the state, but investors are landing deals by targeting local auctions. Foreclosure trends were predicted to worsen, along with the financial strain, during the pandemic.
Homes nationwide are more expensive for investors and Pennsylvania is no exception. Price gains have made it more difficult to find attractive profit margins on real estate sales. Outside of browsing the auction market in Pennsylvania, there are few places investors can find discounted properties.
The new housing market post pandemic is more suited for long-term investors. In particular, today’s low interest rates make it easier for investors to borrow. The lucrative rental market makes it possible to increase monthly cash flow and increase profit margins on long-term rental properties.
Know the Real Estate Trends Data for Pennsylvania
- Find markets where homeownership tenure is dropping.
- Learn where first-time homebuyers are purchasing.
- Find markets that are surging past pre-recession peaks.
- Discover the strongest downturns in cash sales.
- Access potential shifts among home buyers.
- Find where home seller gains are strongest.
- Uncover areas with the most institutional investor activity.
- Uncover hidden gems for investing.
Discover the following trends for the state of Pennsylvania:
- Home seller price gains
- FHA, REO Sales
- Third-party foreclosure auction sales
- Institutional investor purchases
- Short sales
- Total distressed sales
Real estate professionals can leverage sales trends data to gain a competitive edge for their investors, buyers, and sellers.