There are many different trends in homes for sale. Some of them are really obvious, such as a specific feature or architectural design. Others are less obvious, but you should still learn to read them. This secret language of real estate with regard to trends in homes for sale has a lot to say, and most of the trends are worth paying attention to.
Lots of Homes for Sale in One Area
If you see a lot of "for sale" signs on properties within the same few blocks of each other, you really should pay attention to that. This could mean something good, but usually it means something really bad.
Lots of homes for sale can mean any one or more of the following:
- Lots of elderly residents have passed away or moved into nursing facilities.
- The neighborhood is running downhill, and it may not be the safest place to live.
- The local public schools have the lowest scores in education, testing, and safety, so no one with children wants to live there.
- The houses have suffered a lot of damage from a recent natural disaster.
- Property values and taxes have soared, making it impossible to sell these houses (which are probably all located in a very nice neighborhood that no one can afford).
The easiest way to determine what is going on with these houses in this neighborhood is to stop and talk to some of the neighbors that are not moving. They can tell you about the neighborhood and why they continue to live there while their other neighbors are moving out (or have passed away). Visually, you may also see why many of the houses are for sale, especially if there was a natural disaster.
Lots of Homes Quickly Snatched up in One Neighborhood
Almost a reverse trend of the one above, you may also see a lot of homes you are interested in and want to check out, but before you can, they are instantly gone. As more homes come on the market in the same area, you see the same trend.
In this case, people are likely grabbing the real estate in this location because:
- Property is cheap but the homes are very nice.
- A local school has excellent marks and reviews, and parents want to be close enough for their children to attend that school.
- Property values are expected to go up while taxes in this area decline.
Again, you can ask the locals about why this trend is occurring. In fact, asking someone as they move into the neighborhood will give you the best responses, especially if they have school-aged children.