Hurricane Florence may not hit the region for weeks, but the outlook is more positive than we thought, according to a recent report from real estate analytics firm Trulia.
The real estate market will be resilient, but not quite as resilient as we thought.
According to Trulia, which is based in Cambridge, Massachusetts, the average price for a home in the U.S. rose by 5.7% during the past week.
That’s up from the 3.6% gain recorded over the same period last year, and it’s the biggest gain since May 2017.
It’s also up from a 4.7%-gain in June 2018.
The market will not be hit as hard as we feared, however, according Trulia’s CEO, Michael Gresko.
The reason is simple: The hurricane hit during a time when buyers are more eager to buy, and they’re not in a rush to buy.
“We see a lot of buyers wanting to buy before the storm comes,” Greskos said.
“This means there are fewer homes available and more people trying to sell before they’re ready.”
For many of us, the most important decision we make this summer is which property to buy or sell.
We may not have a choice in the matter, so it’s important to take the right decision for us.
We’re not immune to the impact of Hurricane Florence, however.
As of Monday, the median price for homes in the Philadelphia area was $1.9 million, up from $1 million in May 2018.
This increase was largely driven by an increase in home values, which have increased by an average of 4.2% during that time.
But the median home price in the city has also increased by $3,000 since the storm hit.
That was mostly due to an increase from houses sold by developers, but there were also increases from other properties sold for $1,000 to $1 of million.
While the majority of these increases are due to the surge in sales, the Philadelphia real estate marketplace is still expected to be hit harder than it was in May, with a median price of $1.,788 for homes and $1,.933 for condos, according the Trulia report.
A few other cities are expected to see a greater drop in sales.
But not all of the major markets in Philadelphia are likely to see any significant decline.
In fact, it’s unlikely that the market will experience any decline in sales during the next week.
For some markets, the impact may be much worse than the median house price.
For example, the Phoenix metropolitan area saw a 9.3% decrease in median sales prices between May and June, according To Home Buyers, a site that tracks real estate data.
In Denver, the city saw a 5.5% decrease, while the Phoenix area saw an 11.4% decrease.
The Phoenix area’s median sales price decreased by $4,100, while Denver’s dropped by $2,700.
The average price in Phoenix has also decreased by an additional $2.3 million, while prices in Denver have decreased by about $2 million.
However, some of the market’s worst-hit markets could also see increases in their median prices during the storm.
According To Home Sellers, the Houston area saw the largest drop in median prices between June and June.
This decrease in sales prices was largely due to a decrease in the number of houses sold in the area.
The Houston metro area saw sales prices decline by an extra $3.6 million during the last three months of 2017, while sales prices increased by about 1.2 million during that same time last year.
While Houston has seen a decline in the median sale price in recent months, the rest of the country’s largest metro areas have seen the biggest price increases.
Houston saw a $1 billion gain in median price from June 2017 to June 2018, while Los Angeles and San Francisco saw an average increase of $2 billion.
For a more detailed look at the top markets in the country, click here.
The Philadelphia real market is the most resilient during the hurricane, but it will not experience the devastation that we saw in May.
If you’re looking to buy a home right now, however in some markets it may be the best time to do so.
Trulia predicts that the average sale price for properties in the region will be $1 to $2 more than it is now, and there are some areas that are expected see increases.
In other words, it may seem like a great time to buy right now in most of the areas, but if you’re willing to put in the extra effort and risk, it could be the right time to get into the market.
For more, click on the infographic above or on our home buying guide.