Here are some tips for installing a new home in your neighborhood.
(Jhaan Elker/The Washington Post)Read moreRead less”We have seen that when you start to get more residents in your community, you actually see an uptick in property values,” he said.
“You see a decrease in the vacancy rate and you see property values go up.”
This is a big change, said Matt Mowat, senior vice president of residential real estate at Ritz-Carlton.
He expects that trend will continue for the foreseeable future.
“We’ve seen this trend for many years,” Moware said.
“What we’re seeing now is a change in the population of homeowners who want to purchase homes and want to put their money into a new place.”
That said, Mowath says it is too soon to predict how long the market for new homes will remain steady.
It’s not clear that the trend will stop there.
“The only thing that’s going to stop the market going down is if you have some major shocks that happen to the economy,” he says.
“We’re not sure what those are yet.”
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