Will Home Prices in the Long Beach Island Real Estate Market Continue to Rise?
Long Beach Island Real Estate
The rapid increase of prices in the LBI real estate market has led many consumers to wonder if home prices fall or keep rising. The LBI real estate market has seen an appreciation of around 30%-40% in the last 12-18 months, which is a shocking increase. While COVID is unquestionably an underlying cause of this price increase, other factors have contributed to home prices on Long Beach Island rising as well. While, of course, nobody can say with 100% certainty, there are several compelling arguments to be made that support the widespread belief that home prices in the LBI real estate market will continue to rise, at least in the short term. Chief among these are:
- Historically low supply coupled with high demand
- A low-interest-rate environment
- A strong tailwind of interest in the LBI real estate market before COVID
By : Nathan Colmer | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
No comments:
Post a Comment