A real estate data company projects Denver’s hot housing market will start to cool off in late 2019. A 2013 study , for example, found that during the recession, in five different U.S. metros (Philly not included) residential property values located near public transportation performed 42 percent better on average than homes located elsewhere. Also known as double-duty rooms, you’ll see flex rooms advertised as an additional living area that can serve a variety of purposes, from a guest bedroom to a game room to an exercise room to a study room for the kids.
Over the last 12 months, home values increased 2.1 percent, and during the last five years, home values increased 59.9 percent. Some analysts say the BPOs they don’t take into account a possible plunge in home prices, and the values tend to be more optimistic than a full appraisal.
Our survey tracks $1-million-plus single-family houses in ZIP Codes with a high percentage of second-home residences, and we rank the 20 resorts according to our judgment of their livability and value. In the past five years, median Chicago condo values are up by 23.3 percent, but median single-family values have risen by 25.5 percent.
Values in the new roll reflect a snapshot of the housing market from July 1, 2015. Even though we face some statistical obstacles to separating out the different contributions of each ingredient, its clear that the combination of biking, walking and transit help underpin urban property values.
Recent sales information is only one variable in the code that generates a valuation. The Mortgage Bankers Association, Fannie Mae, Freddie Mac and the National Association of Realtors are all projecting that mortgage interest rates will move upward in 2017.