If you were to take the entire United States and chop it into individual real estate markets, you would end up with 499 different areas. Each individual market has different economic drivers, unemployment rates, and of course, geographic desirability.
Given the different factors, it is logical that while the average home price across the nation has dropped since the peak of the market, how much (if anything) each market has dropped varies widely. A recent Forbes article, America’s Recession Resistant Cities for Real Estate, used data from each of these individual markets to analyze the top 25 most recession-proof real estate markets.
Two of S&A Homes’ main markets, Pittsburgh, PA and State College, PA ended up on the top 25 list. Forbes analyzed the markets that have experienced continual price increases since the beginning of 2011 to come up with the list. And while that is a relatively small time frame, we believe the trends captured in the article are indicative of long-term pricing trends that we have observed for a number of years.
Unlike many American towns with industrial and manufacturing roots that have failed to adapt to the changing economic times, Pittsburgh has succeeded in revamping its image to attract a diverse range of companies and industries to keep the economy churning. The city has invested an incredible amount of effort into revitalizing the downtown areas and a number of neighborhoods around it. The result is an affordable city with a healthy economy and plenty to keep residents busy and happy, including beautiful Pittsburgh new homes.
State College, PA, on the other hand, is on the list for different reasons. The town revolves around Penn State University and several of the businesses affiliated with the college. And while universities across America may be experiencing budget cuts and reduced enrollment, Penn State is able to keep enrollment high and budget impacts to a minimum thanks to its huge alumni base, which is proud to boast the highest number of alumni donations compared to any other university. State College is also known for its small town feel with world class facilities and is just a few hours away from most of the northeast’s major cities, like New York, Baltimore, and DC. Make sure to visit us if you are looking for State College new homes.
To find out more about each of these real estate markets, please visit S&A Homes on the web.