Why would the same house be valued differently in different years? Obviously, supply and demand, but what causes supply and demand changes for homes?
Supply change would be new construction and renovation of previously uninhabitable homes. I read that this accounts for 2% of the market.
I think demand change is the more important factor. The population increases slightly all the time. That could account for some.
What is the rest? Does it correlate with the business cycle and the economy as a whole?
Supply change would be new construction and renovation of previously uninhabitable homes. I read that this accounts for 2% of the market.
I think demand change is the more important factor. The population increases slightly all the time. That could account for some.
What is the rest? Does it correlate with the business cycle and the economy as a whole?
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