For, a variety of reasons, we're experiencing a real estate market kingdom valley Islamabad noc, particularly, in relation to price rises that we've never experienced in recent years! Evenafter 15 years as a real Estate Licensed Salesperson, across the State of New York, the pricing for certain properties, recently, is incredibly, high! In some areas, price rises, for houses recently, that were sold are as high 33% or more. 33%, or more. many wonder why, and what the most important factors/ the reasons for this, and what is the length of time this trend, continue. Withthis in mind this article will try to briefly consider and review, and discuss, 5 important factors and explain what they mean, and are.

1. Demand and Demand:Real estate, especially, pricing trends, often, relate, to the economic concept of Supply and Demand! When, demand exceeds supply, which means more, qualified, potential buyers, than homes, available for sale, and being offered, prices will go up! The extent, and the length of time, dependson whether this trend continues, or shifts! The economic theory says that the relationship between these two elements, changes in time and, when it alters the underlying cause, that impacts, on real estate pricing, also, changes!

2. Low interest rates:Few can recall any time in recent memories, when we had, either, mortgage interest rates as low, as they are right now, or, for such an extended or longer amount of time! If rates are low, potential buyers, become capable of paying higher prices because, they get, more bang - for bucks that is, their monthly, carrying cost for any mortgage, are lower. Sincethe majority of people require financing (mortgage, etc) to be able to afford a house of one's own. This results in an overall increase in prices for homes!

3. Post-pandemic wishes to change things:After, this extended period, of the horrific pandemic, many people have developeda desire to make some changes in their lives, including, the locations, and styles of their residences. The long-term - duration of being in a home for a long time, has created, a focus, on the perceived weaknesses or imperfections of their current homes!

4. Battles for bidding:For the past few months, several houses are sold for higher than they were listed for! In reality, we have witnessed some bidding wars. Particularly, in certain areasthat are viewed by many as being the most desirable! This resulted in overall price increases!

5. Higher than average, confidencelevels of our nation's economy.After nearly a whole year of a declining economy, as well as the job market due to the pandemic which caused low consumer confidence, the opposite, has occurred, recently and both confidence in the job market and employment, along with a feeling of stability in the economy and stability have been factors in this price rise!

The rising prices, we are witnessing, for home costs, will, certainly, in the near future, drop and a prudent buyer will be able to move forward with a greater understanding of the market about the various aspects of home buying. Be a savvy homebuyer and be aware of your needs, perceptions as well as your financial, comfort zone!