(WBRE/WYOU) — Economists are projecting an active housing market this year, which could mean areas like the Poconos will continue to see an uptick in people moving to the area.
According to the “National Association of Realtors, the 2024 market started on a positive note with inventory on the rise, but then rates began to climb, causing sales to slump.
However, this past summer pushed inventory to its highest level since 2020 as it came with a surge of new listings.
In the Poconos, the growth continues with lots of new home construction popping up across the region.
When it comes to the popularity of short-term rentals and their boom in the industry, 28/22 News asked a realtor association about its factor in the market.
“What’s wonderful is that we do have a great balance of those who are entrepreneurs and looking for real estate to grow their portfolio and to be able to make money with their real estate, and we also have those who are looking to make it a home that they have generational wealth and can raise families in,” said Pocono Mountains Association of Realtors President Elect Tiffanie Bailey-Romey.
If you’re looking to buy or sell this year, the Realtors Association suggests you do your research before you buy and utilize real estate professionals.
Plus, if a deal sounds too good to be true, it most likely is.
