Robust Micromarkets Defy Housing Slowdown
Robust Micromarkets Defy Housing Slowdown
Amid national and regional housing market slowdowns there are certain communities and ZIP codes that are going against the grain — exhibiting strong market fundamentals even as the surrounding areas suffer.
Metropolitan areas where some key ZIPs have continued to rise in value, while others have stagnated or dropped, include: Coral Gables, near Miami; Pacific Heights and the Marina area near San Francisco; and the 20015 ZIP code in Washington D.C.
Where can you find these oasis micromarkets? Experts say these factors are telling:
- Established neighborhoods near jobs, which don’t require residents to make long commutes.
- Residents with healthy incomes, and home prices to match. Typically these are not first-time buyer markets.
- Local school systems are highly regarded.
- Crime rates generally are low.
- Foreclosures are not predominant. These tend to areas without many subprime mortgages, and without the negative effects of rising foreclosures caused by payment-shock loans.
What neighborhoods in suburban Philly fit this description? Let me begin this conversation thread by pointing out the Main Line.
