Ohio Real Estate Trends 2022
When you buy a house in Cleveland, you win no matter what you decide later. Because of its location, its amenities, and its prices, Cleveland is already a popular area for homebuyers. Current trends prove that buying a home here is still a great idea.
Postpandemic Life Choices
The pandemic changed the world, for better or for worse, and people are still adapting to those changes. One of the biggest things that changed was the personal sense of place, as people came to terms with working from home and then coped with being sent back to the office. Many people looked around for the first time and realized that they could live anywhere they wanted while still managing to achieve their other life dreams. While the pandemic is technically over, and the housing market seems back on track, many people have different ideas now.
Cleveland Is in the Top Three Affordable Cities to Buy a First Home
Based on price alone, Cleveland is a great place to buy a house. According to a study by Living Cozy, Cleveland is number two when it comes to the most affordable places for buying a first home. Although the list was specifically targeting Generation Z, the data is important for everyone. When you don’t have to spend as much on your basic cost of living, you can use your money for other important goals in your life, like traveling and saving for college and retirement. Also, other costs of living tend to be lower in areas where homes cost less.
Pandemic Home Sales
During the pandemic, housing was at a premium. People moved a lot, and quickly, during the first six months of the pandemic. One of the biggest trends was leaving large cities, where people were more packed together. About one in seven American workers was working from home. Many companies obviously learned that their employees could be counted on to do great work even while at home unsupervised, so people moved to places where they could be comfortable with their families. Some moves that were meant to be temporary became permanent as people realized that the grass really was greener on the other side of the fence.
Cleveland Trends Still Steady
Even though it may no longer be such a strong seller’s market, home sales in Cleveland remain strong. If you buy a house in Cleveland, you can expect that the housing market will continue to stay as strong as it has remained for many years. The overall number of home sales fell while home prices continued to rise but still within the relatively modest prices expected in the Cleveland housing market. Interest rates have changed several times during 2022 because of the inflation that inevitably followed the pandemic, but the market proves that people still have faith in Cleveland as a solid market and a great investment.
Why Live in Cleveland?
Can you handle the cold? Because it does get cold in the wintertime on a great lake. But the area also has everything a big city has to offer, including professional sports teams, top-notch hospitals, great food and music, and excellent schools. Whether you enjoy hiking alone or joining in group activities in your local area, you can find plenty to do. Cleveland boasts innovation in both culture and business, so there is something for everyone here.
Are you looking to buy or sell a home in the Cleveland area? We buy and sell houses, condos, land, and other types of real estate. Whatever you and your family are looking for, we can help you find it. At We Buy Houses Cleveland, we have access to many great properties and can help you get what you need quickly. You can reach us by phone or online.